SC, Golden Forests and the perils of mega financial disputes

In 1997, SEBI’s investigation revealed significant financial irregularities, leading to an order prohibiting GFIL from selling its assets.

New Delhi : On April 8, the Supreme Court will hear the Golden Forests (India) Limited (GFIL) fraud case, armed with an amicus curiae report that may finally deliver justice to around 1.47 million investors defrauded by the company.

GFIL, established in 1987 by the Syal family, launched numerous schemes in the 1990s, promising returns on investments in agricultural lands, social forestry and farms.. (PTI Photo/Atul Yadav) (PTI)

It’s taken at least 20 years, and sittings by a dozen Supreme Court benches to reach this stage. And while the amount involved may seem relatively modest by today’s standards — a total of around ₹1,000 crore — and there