'I Will Take A Serious Step': Justice SK Kaul's Stern Warning To Investors Duped In Heera Gold Scam; Cautions Not To Establish Contact With Him Via WhatsApp

He asked the Counsel appearing for the investors to pass on the warning -

"You communicate with them, I will take a serious step. My mobile is not meant for their WhatsApp messages. I will just send the proceedings off. I mentioned earlier but did not take action. Stop, otherwise I will recuse myself, don't try this."

Previously, on 09.02.2022, while hearing the appeal filed by Investigating Agencies against Heera Gold Exim Pvt. Ltd. and its Managing Director, Nowhera Shaikh for defrauding investors, Justice Sanjay Kishan Kaul had expressed his concern that he was being contacted by the investors seeking justice -

In the end we may express some concern about the endeavours of some investors in addressing communications to Judges or endeavouring to send messages through whatsapp. We appreciate their concern but that is not the method for seeking redressal. We therefore call upon them to desist from doing so."

Heera Gold Exim Private Limited, a company dealing in gold, collected huge deposits from the public with a promise to pay a 36% dividend on the invested amount. When the company failed to pay dividends and maturity amounts, investors across states lodged complaints, inter alia, alleging cheating and fraud.

In the light of the same, Ms. Nowhera Shaikh, the Managing Director of the company was arrested. On 19.01.2021, the Supreme Court granted her interim bail on the condition that she would settle the claims of the investors. The interim bail was extended from time to time and on 05.08.2021 it was made absolute. In May, 2022, when SFIO had approached the Apex Court seeking cancellation of her bail, the Supreme Court dismissed SFIOs plea.

Justice Kaul has time and again indicated that the only reason the Apex Court has disposed of the matter and kept it open is to see to it that the investors receive their due claim. The Supreme Court had asked Ms. Shaikh and the Investigating Agency to ensure that the investors receive their dues. To facilitate the same, the Court had also asked the Investigating Agency to de-freeze the accounts of the company and provide necessary access to Ms. Shaikh so that the settlement process could be expedited.

[Case Title: State of Telangana Rep By Special Officer Vandhana And Ors. v. M/s. Heera Gold Exim Private Limited And Ors. Criminal Appeal No. 761-762 of 2021]

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