The Central Bureau of Investigation (CBI) has registered a primary data report (FIR) case towards Jai Corp director Anand Jain over alleged fraudulent actions. Jain alongside along with his group of firms City Infrastructure Enterprise Capital and City Infrastructure Trustees, in relation to funds mobilised from the general public for actual property initiatives value Rs 2,434 crore again in 2006-2007, in response to the FIR.
The suspected offence is “legal conspiracy, dishonest and dishonesty inducing supply of property, making cast paperwork for the aim of dishonest and utilizing as real the cast paperwork”, in response to the FIR dated February 18.
The event could comply with an investigation by capital market regulator SEBI going ahead, in response to sources.
Jain is a promoter of fantasy sports activities platform Dream11.
On Wednesday, Jai Corp shares ended larger by Rs 4.9 at Rs 101.9 apiece on BSE, locked within the 5.0 per cent higher circuit for a second straight session.
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Home fairness benchmarks Nifty 50 and Sensex rebounded round 1 per cent every on Wednesday, recovering practically half of the losses registered up to now three periods aided by shopping for in auto, IT and FMCG shares.
The Sensex rose 740.3 factors to finish at 73,730.2 whereas the Nifty 50 gained 254.7 factors to settle at 22,337.3, with heavyweights Bharti Airtel, Mahindra & Mahindra (M&M) and ITC shares being the highest contributors to the restoration.
Besides Bajaj Finance, IndusInd Financial institution, HDFC Financial institution and Shriram Finance, which declined between 0.1 per cent and three.4 per cent, all Nifty 50 shares registered positive aspects on Wednesday.
Jai Corp Share Worth Historical past
As of Wednesday, the Jai Corp inventory has misplaced 67 per cent of its worth in 2025 to date, sharply underperforming a 5.9 per cent decline within the headline Nifty 50 index.
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