I - COURT CASE SUMMARY
SEPTEMBER 2018 TO NOVEMBER 2018
From Arrest up
until filing of first petition in SC
- September 2018 – First FIR, Banjara Hills, Hyderabad.
- October 15, 2018 – Arrest.
- October 2018 (Late) – Nampally Metropolitan Court
granted bail.
- November 2018 (Early) – Central Crime Station,
Hyderabad, approach Hyderabad HC. Hyderabad
HC issued order stating the bail granted was erroneous. Bail cancelled before release.
- November 2018 – Heera files petition in SC. SC refuses to intervene.
NOVEMBER 2018 TO DECEMBER 2019
Several other FIRs were registered against Heera Group (Over
25). Custody/transfers: Maharashtra, Andhra Pradesh, Karnataka,
Kerala.
- Malegaon District Court offers bail against settlement of claims within 2 weeks.
DECEMBER 2019
*Telangana HC
grants bail; Heera files another petition in SC.*
- December 2019 – Telangana HC ordered bail with
conditions to settle all claims of investors within 3 months and a deposit of
Rs. 5 crores. Post this, Heera filed
another petition in SC in January 2020, pleading to implement Telangana order
for all other states, grant bail, club all cases to be investigated under one
single agency, SFIO, and provide chance to pay/bail.
JANUARY 2020 TO DATE
Supreme Court
Record Of Proceedings
JANUARY 2020: Petition filed by Heera Group in SC, praying
for all cases to be clubbed and sent to SFIO, citing unfair handling of cases
by State of Telangana given political rivalry with AIMIM. Also stating that the company has sufficient
sources of funds using which they can pay all claimants immediately after the
CEO is given a chance to do so (bail).
- Delay due to Covid-19.
JANUARY 11, 2021: Heera files an undertaking promising to pay
all complainants within 6 weeks on grant of bail/release, and settle any other
remaining due (those who have not complained yet) within 6 months.
JANUARY 19, 2021: SC grants interim bail ordering Heera to pay
all complainants within 6 weeks.
- Heera excuses in the hearings after release on bail -
Enforcement Directorate has taken away all monies in banks, bank account not
defreezed, seized data instruments not provided by State of Telangana/FSL and
so unable to facilitate settlement of dues to complainants.
- Enforcement Directorate returns back monies into Heera
accounts.
- Heera prepares documents to establish proof of payment
done to complainants. Claims to have
settled around 3000 claimants.
- Dissatisfied with the submissions, SC asks Heera to
submit compliance report on or before June 30, 2021. Heera submits printed accounts on company
letterheads (more than 500 documents), now claiming to have settled more than
7000 claimants.
AUGUST 6, 2020:
Hearing – Distracting attention from the
submitted compliance report, Heera lawyer starts off the hearing stating that
the State of Telangana has still not provided them investors’ data. Telangana blames delay in acquiring data
instruments from FSL, also states that they have written to Heera asking them
to reply as to what part of the seized material is required for the company to
start verification and disbursement. SC
shows displeasure in the functioning of State/s. Makes January 19, 2021, order absolute, i.e.,
bail until State comes up with their own verified list. Since the original petition filed in January
2020 by Heera was requesting the SC to club all cases and send to SFIO, SC
decided not to argue on the settlement and bail issue until states come up with
verified list of investors themselves, and decides on hearing whether the cases
should be clubbed and sent to SFIO or not.
HON. ADDITIONAL SOLICITOR GENERAL OF INDIA, MR. S.V. RAJU IS COORDINATING WITH STATES AND OTHER CONCERNED PARTIES TO COME UP WITH VERIFIED LIST OF CLAIMANTS - NEXT DATE SEPTEMBER 22, 2021
SEPTEMBER 22, 2021: Hon. Additional Solicitor General of India, Mr. S.V. Raju was not present because of being physically present in SC, arguing against a Death Sentence. Hearing postponed to October 22, 2021.
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