India, Nov. 14 -- Mumbai: The Bombay High Court has quashed a Look-Out Circular (LOC) issued by the Serious Fraud Investigation Office (SFIO) against television actor and Elder Pharmaceuticals chief operating officer (COO) Anuj Saxena, observing that the notice cannot be kept pending indefinitely since he has cooperated with the investigation.

The LOC, issued in 2021, had barred Saxena from travelling abroad in connection with an investigation into alleged corporate irregularities at Elder Pharma. The SFIO operates under the Ministry of Corporate Affairs and investigates complex corporate frauds assigned under the Companies Act.

Saxena had approached the high court in 2023, seeking to quash the LOC. He first came under the Central Burea...