Mumbai: The Bombay High Court has strongly criticized the Economic Offences Wing (EOW) of the Mumbai Police for its failure to file a chargesheet even four years after the registration of an FIR in a case of alleged cheating and criminal conspiracy.
The case involves over 600 investors, including senior citizens, who were reportedly duped of lakhs of rupees. Calling it “a classic case where the investors were let down,” the court questioned why the probe had not been completed and why the chargesheet remained pending.
The bench of Justices Revati Mohit Dere and Prithviraj Chavan, in their December 17 order, expressed disappointment over the delay, stating, “The police have betrayed the investors of their legitimate right to an expeditious and competent investigation.”
The judges noted that instead of receiving timely justice, the victims were constrained to “run from pillar to post” and approach multiple authorities and hire legal counsel to pursue the matter.
The FIR was initially registered on October 7, 2020, by the Vinoba Bhave police station under the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act (MPID Act). The case was transferred the same day to the EOW. However, despite the passage of four years, no chargesheet has been filed.
The State’s advocate, on instructions from senior EOW officials, then informed the bench that the chargesheet would be filed within four weeks. The court emphasized that while the law permits an ongoing investigation even after a chargesheet is filed, it is unacceptable to let the probe drag on indefinitely.
“We are extremely unhappy with the manner in which EOW, Unit-8, Mumbai, has handled this case,” the bench remarked, stressing that the prolonged delay keeps investors in the dark and denies them justice.
“Investigation cannot be permitted to linger on for years, keeping the investors in the lurch, not knowing what is the outcome of the case. There are investors who are senior citizens and who have invested lakhs of rupees. It is the duty of the police to see that the investigation is completed, at the earliest and is taken to its logical end,” the judges added.
In response to earlier court orders, authorities moved to attach properties linked to the case, which have since been put up for auction. The HC reiterated the need to fully implement the provisions of the MPID Act to ensure that justice is served and investors are compensated.
