“The investigation also revealed that the complaint lodged by the Promoter of STL was misleading as he and his CFO were involved in a larger conspiracy of cheating the general public by way of inflating books, diverting funds of the company to the unrelated business activities of companies having stakes of the CFO and CEO of STL.”
At last the ED has initiated action on the claim of the promoter that brokers sold the shares without the promoters assent.
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