The bail application plea of Padmabhushan Michael Ferreira in the Rs 7000 crore QNet scam case has been set for January 12
Michael Ferreira
The bail application plea of Padmabhushan Michael Ferreira in the Rs 7000 crore QNet scam case has been set for January 12.
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The Bombay High Court heard the plea, but no order was passed. The Thane Economic Offences Wing (EOW) arrested and produced prime accused Ferreira, Srinivas Rao Vanka, Magaral Veervalli Balaji, and Mumbaikar Malcolm Nozer Desai, in the Maharashtra Protection of Interest of Depositors (MPID) Court in Thane. The arrest came after the Bombay High Court and Supreme Court had rejected the anticipatory bail applications of all the accused, even in the Mumbai case.
A statement from QNet though called the development, “a surprise move,” saying, “Two shareholders of Vihaan Direct Selling India Pvt Ltd (sub-franchisee of QNet in India) Michael Ferreira and Malcolm Desai and two ex-directors have been transferred from Taloja Jail to EOW Thane.”
A QNet representative added, “At a juncture, when the officials and company have already been charge-sheeted (as on December 27, 2016), bringing up a new FIR dated December 14, 2016 seems stage managed by vested interests. In fact, the FIR relates to a complaint conforming to year 2014.”
In spite of these arguments, the Thane MPID Court did not find any merit in them. The court, after looking into the seriousness of the offence and the amount of money siphoned off from the victims, remanded all the accused to police custody till January 11.
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