simbhaoli sugars: Allahabad HC directs CBI to probe loans to Simbhaoli Sugars

Uttar Pradesh-based Simbhaoli Sugars has been directed by the Allahabad High Court to investigate whether loans were sanctioned in contravention of Reserve Bank of India (RBI) guidelines and if there was a case of money laundering. The court order came in response to a writ petition by the company seeking to squash insolvency proceedings initiated against it by the State Bank of India (SBI).

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