Multi-crore Gold Quest scam case SC hearing on February 26

Those who were involved in the what is known as the Gold Quest scam case, affecting several thousand investors, tried very much to come out from the legal clutches and escape from the case. But the Supreme Court has taken timely action to stop them from escaping.

The apex court has ordered maintenance of status quo on the order of Madras High Court permitting compounding of 192 victims out of 200 mentioned in the matter relating to Gold Quest charge sheet filed by Central bureau of Crime Investigation Department (CB-CID).

Passing the order in favour of CB-CID, the Supreme Court ordered on Tuesday to maintain status quo till February 26 when further arguments will be heard.

Challenging the orders of the Madras High Court, which permitted compounding of the cases, the CB-CID moved the apex court.

The charge sheet filed against Quest Net Enterprises India Pvt Ltd incriminating 25 accused including Dato Vijay Eswaran, Group managing director, Malaysia and Ms Pushpam Appala Naidu, managing director, India was pending before the Chief Metropolitan Magistrate, Egmore, said an official release.

In the charge sheet, 583 witnesses have been cited and 818 numbers of documents have been lodged in support of prosecution. Further 32,011 complaints preferred by the victims also included in the charge sheet, said the release.

As per investigation, the company has enrolled 3,68,994 all over India and received Rs 1112,99,10,958. Out of 3,68,994 independent representatives (IR), 1,07,999 IRs hail from Tamil Nadu.

As on date, 2,65,757 IRs from all over India inclusive of 75,753 IRs from Tamil Nadu remain without any commission from the company and cheated, said the release.

Since, the High Court permitted compounding by the company before the Trial Court, the accused has compounded 192 complainants out of 200 cited as witnesses in the charge sheet, said the release.

Shanmugasundaram, Counsel for the Quest Net Enterprises India Pvt Ltd., represented before Mr Justice C T Selvam of the High Court of Madras and sought for closure of the case since they had reportedly compounded 192 victims out of 200 mentioned in the charge sheet.

- Asian Tribune-