Homelegal News

SC puts an end to 70 pending criminal proceedings against Azim Premji

SC puts an end to 70 pending criminal proceedings against Azim Premji

SC puts an end to 70 pending criminal proceedings against Azim Premji
Profile image

By Ashmit Kumar  Mar 10, 2022 2:28:06 PM IST (Updated)

The top court had previously termed proceedings against Premji as a “maze of frivolous litigation". It directed the counsel for NGO to tender an unconditional apology and it expressed its regret.

The Supreme Court directed for the disposal of 70 criminal proceedings filed against former Wipro chairman Azim Premji by the shell company and NGO India Awake for Transparency. The shell company tendered an unconditional apology for launching criminal proceedings against the former Wipro chairman.

Recommended Articles

View All

The top court had previously termed proceedings against Premji as a “maze of frivolous litigation". It directed the counsel for NGO to tender an unconditional apology and it expressed its regret. The shell company had earlier launched criminal proceedings against Premji. It had alleged illegality in a restructuring of assets under the Azim Premji Trust.
The NGO had alleged breach of trust and corruption in the merger of three companies with a Premji group firm.
The complainant, India Awake for Transparency, had previously alleged that Azim Premji, his wife Yaseem Azim Premji and Pagalthivarthi Srinivasan were entrusted as directors with the dominion over the assets and properties of three companies -- Vidya Investment and Trading Company Private Limited, Regal Investment and Trading Company Private Limited and Napean Investment and Trading Company Private Limited.
Premji had approached the Supreme Court last year challenging the May 15 Karnataka High Court order, which had rejected their pleas for quashing of the January 27, 2021 summons issued by the trial court.
~ Shloka Badkar
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!