logo
 
The Hyderabad HC on Friday granted stay of all further proceedings in the criminal case lodged against former billiards champion Michael Ferreira and four others and also the transit order against them.
Justice Raja Elango passed these interim order in a writ petition filed by Ferreira and four others who were brought to Hyderabad on a transit warrant from a Mumbai jail.It is alleged that they were the directors of Vihaan Direct Selling India (Pvt) Ltd, which was running and operating the illegal Ponzi scheme under the name QNET company  previously known as Quest Net in India. Nearly five lakh investors from across the country were allegedly cheated in this scam to a tune of about `100 crore.
The petitioners’ counsel pointed out that they were former directors and shareholders of the company.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Name:
Email:
Comment:
Enter the code shown:


Can't read the image? click here to refresh

Todays Epaper

Should Telangana govt stop to implementation of National Population Register in State?

Yes
No
Can't Say