New Delhi, 5 Mar  

The CBI has filed an FIR against Mumbai-based firm Jai Corporation and its director and promoter Anand Jaikumar Jain for alleged misappropriation in the Rs 2,434 crore mobilised through the public during 2006-08, officials said Wednesday.

The move comes on the orders of the Bombay High Court after a complaint was filed by activist Shoaib Richie Sequeira.

Sequeria had alleged that funds were mobilised from the public for the Urban Infrastructure Opportunities Fund scheme for the purpose of real estate business in Mumbai and other cities.

It is alleged that funds were diverted for setting of companies in tax havens, for allege fraudulent trading of future and options of a leading oil major and other illegal activities.

The Bombay High Court on January 31 had directed the agency to create an SIT to probe the complaints.

Jai Corporation is engaged in the manufacture of steel, plastic processing and spinning yarn.