Are there unseen forces that do not want courts to go into the root of financial scams? What Madras High Court said

The hearing before the Madras High Court on Tuesday in a public interest litigation petition relating to the Dewan Housing Finance Corporation (DHFL) scam saw Chief Justice Sanjib Banerjee make some pertinent remarks on how courts are often discouraged from going to the root of financial scams. .The Chief Justice recalled that in several orders passed while he was sitting as a judge of the Calcutta High Court, he had implored the authorities to check on amalgamations and demergers of companies, which may have involved drug money or terrorists' money.."No one took action," the Chief Justice added, while commenting that there will be many forces stopping the Court from going into the root of such matters..The remarks came after Advocate Nithyaesh Nataraj, who was appearing for the petitioner, submitted that in the Enforcement Directorate's remand application in a money laundering case concerning underworld don Iqbal Mirchi, it had submitted that monies diverted from DHFL were used to fund Mirchi's alleged terror activities..[DHFL scam] Madras High Court issues notice in PIL seeking fact-finding investigation by SEBI.The Bench also made pertinent remarks on how market regulators also object to interference by courts..Advocate Nataraj concurred, stating that "commercial wisdom" and "financial matters" are phrases used by regulators when they are asked questions in such cases..The Chief Justice added that the question of whether the Court may interfere in the present case could hinge upon whether the petitioner is able to show that an intentional fraud had played out in the DHFL case..Since the Securities and Exchange Board of India (SEBI) was not represented in the hearing, the Court decided to issue notice and adjourn the matter so that the regulatory body may give its response..On a related note, the Chief Justice had also recently recalled how the Calcutta High Court had sounded notes of caution in several orders before persons associated with Videocon and ICICI Bank got embroiled in controversies over defaults. ."From 2010 onwards, you will find the prediction in those orders about that particular bank and its high-flying personnel," he had remarked, during a hearing in a plea raising concern over the rise in Non-Performing Assets (NPAs) and the possibility of using provisions of the Companies Act, 2013 to tackle such cases. .[NPAs and Bad Loans] Union can do a lot of good if it steps in at the right time: Madras High Court