The Chief Metropolitan Magistrate has ordered an officer of the rank of Deputy Superintendent of Police,CID (Crime),to clarify her refusal to carry out an inquiry into the Satyam scam,ordered under the provisions of the Criminal Procedure Code.
Parikshita Gurjar had earlier refused to carry out the inquiry ordered by the Chief Metropolitan Magistrate,citing a judgment of the Supreme Court of India. On Friday,she also cited her pre-occupation with an investigation as a reason for her absence before the court. The matter is scheduled for hearing on March 13.
The Magistrate has now ordered her to remain present before the court and clarify the details of the number of cases in which she has conducted inquiry as ordered by the Court under the provisions of the Criminal Procedure Code.
According to the details of the case,Naresh Panchal,a member of the All Gujarat Investors Protection Trust,had lodged a complaint with the court,and had levelled allegations against Satyam Computers,Securities and Exchange Board of India (SEBI),National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) in connection with the recent Satyam scam.
In his petition,filed through advocate R J Kevat,Panchal said that following the economic scandal of Satyam,a number of small investors had suffered huge losses. It said that around 78 per cent of Satyam Investors were from Gujarat and they had sustained huge losses.
According to Kevat,the All Gujarat Investors Protection Trust had warned regulatory agencies like SEBI,NSE and BSE about the suspicious activities of Satyam Computers,but they did not pay heed to it,which caused monetary loss to the investors.
Following the complaint,the court had,on January 20,ordered the Economic Offences Wing of CID Crime to hold an inquiry into the matter under the provisions of the Criminal Procedure Code and submit a report before it.
In her reply,Gurjar had cited an order of the Supreme Court and stated that the case should be best investigated by the concerned local police station.