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.

The much-awaited Vande Bharat Sleeper train completed its trial run on Wednesday between Ahmedabad and Mumbai Central on Western Railway. ‘The prototype rake, designed to offer world-class comfort and convenience, reached Mumbai Central at 1:50 PM, where it was welcomed several railway officials and rail enthusiasts” said an official.

The train has dog boxes at both ends and ample linen storage for overnight journeys with 38 special berth for attendant. According to WR, the train features a sleek design and cutting-edge interiors, with amenities designed to enhance passenger comfort on long-distance journeys.

The 16-coach train includes 11 AC-3 tier coaches, 4 AC-2 tier coaches, and 1 First AC coach. Each coach boasts advanced features such as Type A and C charging ports, foldable snack tables, integrated lighting systems, and dedicated laptop charging points.

The train is also equipped with Braille navigation aids for visually impaired passengers, HL3 fire safety compliance, smooth gangway connectivity, and an additional berth for attendants, bringing the total to 38.

“The trial run was conducted at a speed of 130 kmph, and further analysis will be carried out by the Research Design and Standards Organisation (RDSO) before the final certification is issued” said an official.

Rail enthusiasts praised the train for its modern design and passenger-centric approach. “The interiors are on par with global standards, with spacious seating and thoughtful features like integrated lighting and foldable tables,” commented a enthusiasts.

This trial marks a significant step toward enhancing India’s rail travel experience. Once operational, the Vande Bharat Sleeper is expected to redefine overnight travel across major routes, catering to the growing demand for high-speed, luxury train services.

Highlights of the Train

First AC Coach: 24 berth

Second AC Coaches: 48 berth each.

Third AC Coaches: Five with 67 berth each and four with 55 berth each.

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.