"It is settled position of law that the jurisdiction of investigation lies within the realm of investigating agency and a Court has no authority to interfere in the investigation until and unless there is grave miscarriage of justice or misuse of process of law," stated the court. The PIL, filed in 2019, alleged creation of a staggering number of dummy companies by Indiabulls and siphoning of thousands of crore rupees by the company's officials. The plea had sought direction to the Ministry of Corporate Affairs to conduct an investigation through the Serious Fraud Investigation Office (SFIO) into the alleged irregularities.