Delhi Court Orders FIR Against Company for Forging Signature of Deceased Shareholder

The Delhi Court directed police to register an FIR against a finance company for forging the signature of the dead person, namely, late Banwari Lal Saboo, to transfer the company's equity shares.

The company fabricated around 69 fake shareholders to meet SEBI's minimum shareholder requirement and maintain its NBFC license with the Reserve Bank of India.

The accused allegedly acted in a criminal conspiracy to unlawfully acquire shares and transfer them to associates and family members.

The company also fabricated letters and communications to falsely claim ownership of Saboo's original share certificate and ordered further investigation.