The Kerala High Court declined to direct CBI/ED investigations against the resolution professional of Byju's, referencing the pending stayed FIR in Karnataka HC.
Kerala High Court Denies CBI/ED Inquiry into Byju's Management
In a significant ruling, the Kerala High Court dismissed a writ appeal seeking directions for the CBI and ED to investigate alleged malpractices by the Resolution Professional of Think and Learn Private Limited (Byju's). The court cited the pendency of a stayed FIR in the Karnataka High Court as a basis for its decision.
The court emphasized that undertaking any inquiries in light of a stayed FIR would not be appropriate, highlighting the importance of parallel proceedings and judicial discipline. The decision underscores the principle that ongoing legal processes should not be undermined by additional investigations.
Legal professionals should be aware of the implications this ruling has on the regulatory oversight of corporate entities, especially in cases of insolvency, where the resolution professional's actions might come under scrutiny.
