List manipulated to increase complainants’ amount

Names of investors who went to the department were counted several times

New Delhi (Report : Mutiur Rehman Aziz) As soon as the Heera Group controversy started, the matter was handed over to the SFIO (Serious Fraud Investigation Office), after which the SFIO attracted people who contacted the department in the Heera Group case by issuing advertisements in different times and newspapers, and this work was done by the SFIO on the orders of the Telangana High Court, after which the Heera Group investors who had to take the department’s path and the company became suspicious, at the same time they no longer had faith in the company whether the company would return their money or not. As a result, SFIO made the first list of people and while releasing the first phase list, it said that 6000 Hera Group investors had come in contact. According to later news reports, the number of people who contacted SFIO was 12000. Whatever the number, but after examining and verifying the first list, it is clear that SFIO recorded as many people as they reached it from all the sources. For example, if someone sent their complaint through email, it was recorded, and if someone sent it through postal mail, they were also included in the list, and if someone considered it appropriate to go with a Jam Ghafir, they also delivered their document to the department. As a result, as Heera Group investors came from any source, SFIO added them to its list, and the number kept increasing. Now, the situation is that each person has been included in the list two or three times. The disadvantage was that if a person was included in the list three times, his investment amount was counted three times. In this way, one became three and three became thirty and thirty became three hundred and three thousand.

This list can also be accused of corruption, although the expert team of SFIO cannot be expected to believe that such a big omission was done deliberately. But whatever the case, the burden on the Heera Group of Companies increases that where there is a case of thirty crores, the target of three hundred crores should be placed before the company and the court should be given a statement on the same wrong record. The matter does not end here, with the help of the list given by the SFIO, the ED (Enforcement Directorate) is moving forward, and on the orders of the court, it is taking every step to make available the amount counted by the SFIO. As the Supreme Court has directed the ED. But the objection is that the more money is required, the more lands will be acquired from the Heera Group of Companies and auctioned, and it is as clear as day that the items that come up for auction are sold for ten to twenty rupees per hundred. And in this way, the company is afraid of immense loss. Therefore, the demand of justice is that transparency should be brought in the listing, and if the name and details of a person are mentioned twice, then he should be shortlisted, with the help of which the possibility of loss to the company is also reduced and the investors can also get their legitimate payment. According to the statement, the name of the same investor was included in the list multiple times, due to which the investment amount was presented many times. For example, if the amount of an investor was 30 crore rupees, then due to the repetition in the list, it was shown as 300 crore rupees. This could be a serious administrative error or a malicious act, which is putting undue pressure on the Heera Group. The ED, in light of the Supreme Court orders, is taking steps to auction the properties of the Heera Group based on the SFIO list. Since properties are usually sold at a lower price in auctions, this risks huge financial losses to the Heera Group. If the list contains duplicate or incorrect figures, this loss could be unfairly increased. Justice demands that investors get back their original investment amount, but the company should also be protected from unfair losses. For this, it is necessary to make the listing process transparent and eliminate double entries. The list should be audited by an independent body to remove double entries and determine the number and amount of original investors. If auctioning the properties is inevitable, then the process should be made transparent and a fair price should be ensured so that the loss to both the company and the investors is minimized. The alleged listing irregularities in the Heera Group dispute are a serious issue, which could be detrimental to both investors and the company. Transparency and impartial scrutiny are key to resolving this matter fairly. Courts, agencies, and affected parties need to work together to adopt a strategy that protects the rights of investors and does not impose unnecessary burdens on the company.