Karnataka High Court Quashes FIR Against Adityaraj Capital Directors

Times of India · business

The Karnataka High Court has quashed an FIR registered against the directors of Bhagyanagar-based Adityaraj Capital Pvt Ltd. The case involved allegations that the company attracted investors with promises of high returns, allegedly mobilising over Rs 211 crore from thousands of investors. The FIR was registered after a joint raid on the company's office, which led to its premises being sealed and bank accounts frozen. The court's decision provides relief to the company management, though the impact on ongoing CID proceedings remains unclear.