Competent Authority Pulled Up for ‘Callous Inaction’ in ₹2,000-Crore Popular Finance Scam under Unregulated Deposit Schemes Act: Kerala High Court

The Kerala High Court has strongly criticized the Competent Authority under the Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) for its repeated failure to comply with the court’s directions in the massive Popular Finance unregulated deposit scam case. The scam, involving nearly ₹2,000 crore and affecting over 30,000 investors, has been under judicial scrutiny since 2020. Bench expresses displeasure over continued non-compliance A Division Bench comprising Justice Raja…