Mumbai: The Bombay High Court on Wednesday directed the Commissioner of Mumbai Police to provide protection to Mumbai-based chartered accountant Abhishek Gupta, 31, who claims to have exposed the Rs 1000 crore Torres Jewellery fraud, after being informed that the police are still verifying whether there is any threat perception to Gupta. The jewellery chain is accused of defrauding over 1.25 lakh investors of Rs 1,000 crore across the Mumbai Metropolitan Region.

A bench of Justices Revati Mohite-Dere and Neela Gokhale also expressed “shock” over the manner in which the Mumbai police and “specialised agency” Economic Offence Wing (EOW) dragged their feet in the probe thereby giving opportunity to the foreign national accused to flee. “We are shocked at the manner in which the investigation is progressing… Somewhere, the police are responsible. They had so much information,” the bench remarked.

Gupta, who audited the accounts of Platinum Hern Pvt Ltd, the parent entity behind Torres, alleged that he is a “vulnerable witness” at risk of being eliminated by those behind the scam. He claimed that two of the company’s directors Sarvesh Surve and Taufiq Riaz (alias John Carter); and an employee Laxmi Yadav had warned the police about the alleged scam way back in June 2024. However, the police took cognisance only on January 2.

Gupta’s advocate, Ranjit Sangle, informed the court that the petitioner received threats on messenger app, Telegram, and that his photos are being circulated in Tilak Nagar, falsely identifying him as a wanted accused. “I received a photo of myself sitting in a Deputy Commissioner’s office, which is being shared to mislead people,” Gupta said.

On a court query, State’s advocate Prajakta Shinde said they were awaiting a report on threat perception to Gupta. The court said, “Till then, we will direct you to grant police protection. Someone is exposing your fault. You are lax in your actions.” It also emphasized the importance of protecting whistleblowers, cautioning, “If someone is giving you all this information, don’t make them a scapegoat.”

While the EOW has arrested three directors, including Sarvesh Surve, Tania Kastova, and Valentina Kumar, the Ukrainian nationals John Carter and Victoria Kovalenko remain at large. The EOW admitted that Lookout Circulars (LOCs) were issued only on January 10, four days after an FIR was registered on January 6.

The EOw claimed that they have taken steps to recover the amounts from the accused, and have managed to recover Rs 25 crore, to this, the bench quipped: “That is not even one percent of scam,” while asking the police to apprehend the accused.

When informed that the accused have similar cases pending against them in Turkey and Ukraine, the bench said that under which circumstances they were unlikely to flee to Ukraine. “Have you found out whether they have left the country?” the bench asked.

The bench also criticized the agency for failing to secure crucial evidence such as CCTV footage. “This is a specialized agency. We expect promptness; otherwise, the accused will flee. Obtain CCTV footage from the company’s offices, hotels where the accused stayed, and the Police Commissioner’s office,” it ordered.

The court summoned the Assistant Commissioner of Police via video conference on January 22 and directed officers from Shivaji Park, APMC, and Navghar police stations to remain present at the next hearing.

“Because you can’t find somebody, don’t make someone else a scapegoat. You must ensure prompt and proper investigation,” the court concluded.

The scheme, masterminded by foreign nationals, offered investors exorbitant returns of 4% to 10% per week and annual profits of up to 520%. The scam unraveled when investors protested outside a Torres store in Dadar, demanding their refunds.

The EOW has taken over the investigation and registered an FIR under the Maharashtra Protection of Depositors Act and other laws. While three directors—Sarvesh Surve, Tania Kastova, and Valentina Kumar—have been arrested, Ukrainian nationals John Carter and Victoria Kovalenko have fled the country. Lookout Circulars (LOCs) have been issued for their arrest.

In one of the prominent real estate deals of the year, Harsh Anand Jain, CEO and Co-founder of Dream11, has purchased a premium apartment at Lodha Malabar on Walkeshwar Road, Malabar Hill, Mumbai, for a staggering Rs 138.4 crore. The transaction marks a significant moment in Mumbai’s luxury property market, showcasing the city’s robust demand for ultra-premium residences.

About The Deal

According to official registration documents accessed by IndexTap.com, the sale was executed on January 9, 2025, with a stamp duty payment of Rs 8.3 crore. The property, Flat No. 2301 in Tower A of Lodha Malabar, boasts a sprawling usable carpet area of 9,546 square feet and includes six dedicated car parking spaces. The per square foot price for the transaction stands at an impressive Rs 1.45 lakh, highlighting the exclusivity and prime location of the residence.

The property was sold by Macrotech Developers Ltd, a leading name in real estate development. Lodha Malabar is renowned for its luxurious amenities, superior craftsmanship, and panoramic views of the Arabian Sea, making it a sought-after address among the city’s elite.

This high-profile purchase reflects Mumbai’s enduring appeal to top business executives and entrepreneurs, further cementing its reputation as a global hub for real estate investments.

This landmark deal comes at a time when Mumbai’s luxury real estate sector continues to attract significant attention, driven by rising demand and limited inventory in prime neighborhoods like Malabar Hill.

Mumbai: The induction of the three cutting-edge naval vessels INS Surat, INS Nilgiri and INS Vaghsheer has placed India firmly in the top three navies dominating the Indian Ocean Region and Indo Pacific Region providing significant boost to the Indian Navy combat potential. The commissioning of three combat platforms together is a a watershed moment in Indian maritime history.

The lead ship of the seven new stealth frigates under Project 17A, INS Nilgiri represents a significant advancement with new generation stealth technology. 

Statement Of Commanding Officer Of INS Nilgiri Captain Nitin Kapoor

“It is equipped with modern aviation facilities and can operate multiple helicopter types, including the newly inducted MH-60R. The warship incorporates advanced features for enhanced survivability, seakeeping and stealth, reflecting the next generation of indigenous frigates,” said the beaming commanding officer of the newly minted warship INS Nilgiri captain Nitin Kapoor. 

About The Stealth Frigate INS Nilgiri

The stealth frigate INS Nilgiri, dedicated to the maritime prowess of the Chola dynasty, is considered to be a major advancement over the Shivalik-class frigates and incorporates elements such as an enclosed mooring deck, a low infrared signature, a deck rail system for the safe movement of crew and material.  The Infra-Red Suppression System reduces emissions from the ship’s propulsion exhaust and power generation machinery to avoid enemy radar detection. 

About INS Surat

The fourth and final vessel of the Project 15B guided missile destroyer INS Surat is follow-on to the Kolkata-class destroyers constructed in record 31 months and ranks among the largest and most sophisticated destroyers in the world, making critical addition to the Indian Navy surface fleet. 

“It has an indigenous content of 75% and is equipped with state-of-the-art weapon-sensor packages and advanced network-centric capabilities. It is among the largest and most sophisticated destroyers globally constructed in record 31 months. The beautiful warship is future ready and can take any role required to advance Indian maritime, economic and diplomatic interests,” said the INS Surat commanding officer captain Sandeep Shorey. 

The Surat warship, reminiscent of the era when Gujarat’s ports connected India to West Asia, with commissioned crew of 350 sailors and 30 officers is armed with surface-to-surface ‘BrahMos’ Supersonic cruise missiles and ‘Barak-8’ medium-range surface-to-air missiles (MRSAM), indigenous 76 mm Super Rapid Gun Mount, an anti-submarine weapon suite comprising an indigenous torpedo tube launcher and indigenous rocket launchers with advanced sensor suite providing a continuous multi-dimensional surveillance bubble around the ship

The predecessors of Surat in the Project 15B-class of guided missile stealth destroyers INS Visakhapatnam commissioner in November 2021, INS Mormugao commissioner in December 2022 and INS Imphal commissioned in  December 2023 have played a vital role of force multiplier in the Indian Navy missions. 

Both Nilgiri and Surat, have capabilities to operate a range of helicopters, such as the Chetak, ALHs (Advanced Light Helicopters), Sea King and the newly inducted MH60R even in darkness with accommodations to support women sailors and officers onboard. 

About INS Vaghsheer

The sixth and last of the french design scorpene class submarine INS Vaghsheer boasts of high-tech periscope system gathering HD imagery for improved situational awareness with Thales sonar suite offering stealth, endurance and advanced firepower to challenge adversaries undetected underseas.  

“The submarine was initially constructed in five separate sections. The welding of these five sections into one submarine— Boot Together— completed in 2021 and launched in 2022 is an record for the Indian Navy,” said INS Vaghsheer CO commander Vineet Sharma leading a lean submariners of 11 officers and 47 sailors to traverse the vast oceans undetected for several weeks without resurfacing for air and replenishments. 

The indigenous diesel electric submarine fleet to replace the aging soviet era subs will add more fire power to the inspirations of the Indian Navy and represents India’s growing expertise in submarine construction and has been built in collaboration with the Naval Group of France.

Indian Defence Establishment Welcomes The Addition

The Indian defence establishment welcomed the addition of the sixth and final submarine of the French Naval Group P75 Scorpene Project INS Vaghsheer but cautioned that Indian Navy submarine fleet is woefully short of the hostile neighbour Pakistan Navy three Agosta-90B class submarines equipped with French supplied Module d’Energie Sous-Marin Autonome advanced Stirling powered Air Independent Propulsion (AIP) system. 

“While India will get the next submarine in 2032, Pakistan has a strategic lead in the Indian Ocean Region with 11 AIP equipped submarines in operations further expanding underwater strategic capabilities in the coming years along with eight Hangor class submarines from China,” explained a naval commander. The AIP system offers enhanced underwater endurance providing critical advantage to modern naval warfare. 

The Indian Navy current fleet of diesel electric submarines includes INS Kalvari, INS Khanderi, INS Karanj, INS Vela and INS Vagir.