New Delhi: ED director Rahul Navin has directed agency sleuths to step up action in IBC fraud cases involving "large haircuts" that allow promoters to re-acquire assets, and to take alternative steps in cases where police do not register an FIR at its request.
Both issues recently made news after a special National Company Law Tribunal (NCLT) bench barred Essel Group chairman Subhash Chandra from alienating his properties and issued notices to all parties in a case over a proposed settlement that would allow creditors to recover Rs 6.5 crore from his personal estate against claims of Rs 22,006 crore. The CBI later booked Chandra in this instance.
