The Supreme Court on Friday issued notices to the Centre, Telangana government, and key investigative agencies on a petition alleging a massive corporate fraud of nearly ₹150 crore, implicating the suspended management of an insolvent company, KLSR Infratech Ltd, and raising serious concerns of judicial interference in ongoing insolvency proceedings.
A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi was hearing a petition filed by Saurabh Agarwal, director of Bengal Cold Rollers Pvt Ltd, who alleged that the promoters of KLSR Infratech siphoned off funds and manipulated official records despite a statutory moratorium under the Insolvency and Bankruptcy Code (IBC).
The top court issued notices to the…