HC junks plea to monitor ED probe against builder

NEW DELHI: Delhi HC has upheld ED's probe into real estate firm IREO Residences and dismissed a petition accusing the agency of bias.

Justice Manmeet Pritam Singh Arora, delivering the verdict Wednesday, pulled up petitioner Gulshan Babbar for suppressing key facts and imposed a cost of Rs 1.25 lakh on him for misleading the court.

Babbar alleged lapses by Enforcement Directorate's in probing alleged financial irregularities worth Rs 1,317 crore involving bank loans and land parcels in Gurugram. HC dismissed Babbar's petitions on grounds of lack of locus standi and non-maintainability.