MUMBAI, Nov. 14 -- 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. Saxena had approached the high court in 2023, seeking to quash the LOC. He first came under the CBI's scanner in 2016, when he was named as an accused in connection with an alleged bribery case, which also involved the late BK Bansal, who was the director-general of corporate affairs at the time. In 2017, the CBI had claimed that Saxena approached Bansal to stop an investigation against Elder Pharma, which was accused of duping 24,000 investors of Rs.176 crore through a fraudulent investment scheme. The agency alleged that Saxena offered Bansal a bribe of Rs.20 lakh to prevent an investigation into his company's affairs, including diverting funds to firms abroad and failing to file returns on time. In 2017, Saxena surrendered before a Delhi court. Two years later, in November 2019, the high court directed the SFIO to investigate the affairs of Elder Pharma. The authorities then issued an LOC against Saxena. During the hearing on November 7, Saxena urged the court to quash the LOC, stating that he had abided by the terms and conditions stipulated by the court earlier and cooperated with the investigators. The court agreed that Saxena was not a flight risk and quashed the LOC, saying it cannot be kept pending indefinitely as the petitioner has cooperated with the investigation....