Investors are finding it difficult to digest the fact that Margao JMFC released the Kamaxi Forex owner Nilesh Raikar on the bail bond of mere rupees 5 lakh while earlier the same court had ordered him to deposit Rupees 10 crore before the next date of hearing. It makes previous claims of investors stronger that there is an existence of a political nexus in this case. If the court ordered him to deposit ten crores why it went back on its order? Read the complete report here.
According to the sources, Kamaxi Forex case owner Nilesh Raikar was released by the JMFC Margao on the bail bond of Rupees 5 lakh on Thursday 30th June. The investors gathered around the court premises took this incident very seriously and decided to approach the High Court against the order.
It may be recalled that earlier the court had adjourned the case 28th June asking the accused to deposit Rs. 10 crores before the next hearing on his bail application. The next hearing fixed on 30th June. According to the court order “The matter had been posted for orders on 30th June for the bail application of Nilesh Raikar,” said the lawyer adding that. “The honorable JMFC asked the APP to submit Rs. 10 crores which are half the amount the investigation officer has said that is duped by the accused Nilesh Raikar.”
According to the earlier order, the case came up for the hearing on 30thJune and court allowed the bail to Mr. Nilesh Raikar on the bail bond of Rupees 5 lakh with two sureties of rupees 5 lakh each. The investors waiting outside the court received the shock after hearing the judgement. One of the investors said that “We will challenge this order in the high court. It is against the rules since judge had ordered the accused to deposit rupees ten crore how it suddenly changed to rupees five lakh today?”
The lawyer of Nilesh Raikar, Advocate Rajiv Gomes told the media that his client needs to come out of the custody to make arrangements of the money to payback all the investors. “We have urged before the court that if the money has to be returned to the investors, then he has to be out. Otherwise, it will not be possible for him to arrange all the money by remaining inside the jail,” said Adv. Rajiv adding that “It appears to me that Judge has taken the cognizance of the matter besides this the investigation is also over in this matter, and there is no point he remains inside after that.”
When media person asked Advocate Rajiv Gomes about the earlier order of the Judge wherein the accused asked to deposit rupees ten crores he said, “As far as the deposit of rupees ten crore is concerned that stage will also come. Once he is out on the bail he will go around meet all the financial institutions, release his properties mortgaged with them and payback all the investors. Rupees ten crore is a huge amount to be deposited in the court.” While media inquired with advocate Rajiv asking him if according to the earlier order of the court it was necessary to deposit ten crores, advocate Rajiv nodded in negative saying that “No, it was not mandatory, and there is no directions by the judge to deposit any amount.”
The investors tried to oppose the bail of the accused, but it was not taken into the consideration by the presiding judge. It may be recalled the there are more than 900 cases registered against the accused in the EOC of Goa Police. Investors need their money back, but the bank accounts of Nilesh Raikar are almost empty. The investors now feel that government is no more interested in this case. “For the two crore GCA (Goa Cricket Association) scam government is seriously getting involved while we have lost more than 50 crores and the government is not ready to do anything. The accused has been set free by the court,” said one of the offended investor.
There is no doubt that the investors has a valid point in this case and now they have made up their mind to go to the high court “Now we will go to the high court and appeal against this order,” said one of the investor. The fate of more than 900 people is at the stake with more than 50 crore rupees has been duped by the accused. The EOC of Goa Police has more than 900 complaints registered against the accused. The investors are of the opinion that there should be separate FIR to be filed for each complaint while the lawyer of accused feels that if his client remains inside than making an arrangement of the funds will not be possible. The investors feel that government and accused are working for a hand in gloves in this case. What is your opinion on this? Many of your friends might have invested into this company. Kindly leave your valuable comments on this matter.