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On June 12, 2019, Indiabulls Housing Finance Limited (IHFL) moved the Supreme Court, requesting an immediate list of appeals against it, in which the company allegedly seized 98,000 crore rupees from public funds. AM Singhvi’s senior guard, who attended the company, ordered to include an essential list before a panel of judges, including Indira Bannerjee and Ajay Rastogi.
Singhvi told the station that in the petition, trivial claims were made against the company and the lawsuit was leaked to the media. He said that due to media reports about filing petitions against the company, IHFL, it has lost approximately Rs. 7,000 crore due to its market share. The bench said that it will take a decision during the inclusion day of the appeal.
A petition submitted to the Supreme Court on June 10, 2019, claimed that funds estimated at thousands of crores had been seized by Indhubulls Housing Finance Limited (IHFL) chairman Samir Gehlaut and directors of Indiabulls, for their personal use. One of the IHFL’s shareholders, Abhay Yadav, claimed that Gehlaut, with the help of one of Harish Fabiani, a Spanish-based NRI, claimed to have created many “shell companies” that IHFL had lent huge sums of money under “fake” and non-existent excuses. These companies converted the loan amount to other companies, either managed, run or managed by Gehlaut.
“This chain of fraud was not possible at all, without contact with auditors, credit rating agencies and related government officials,” the appeal said. The request has also been requested to restore, protect and conserve the money of fraud and misleading investors from the Indian Securities and Exchange Commission (SEBI), the Center, the Reserve Bank of India (RBI), Income Tax Department or the competent authority.
The sole purpose of this great and big financial fraud was to get full public funds for innocent shareholders, PSU banks, private banks, etc. so that it could be made for the exclusive and criminal purposes of Gahlaut and his family members. It has been said in the report that Gilhooly and his gang, “Germans” did not leave any financial law to violate it. “He also claimed that The lot and his wife had knowingly received a bribe from alleged borrowers and misled the regulatory authorities.
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In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…
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