Need all details to advice precisely. 

Police will conduct investigations and file charge sheet against the accused 

assets of accused must have been attached 

litigation is long drawn process and there are no’ short cuts 

you can sue the fraudsters to recover your money 

You can file RTI application as to status of investigation 

‘’ypu can file petition in HC to direct investigation authorities to complete investigations within 6 months or so 

Your case involves a large-scale financial fraud, with EOW and ED actively investigating and key employees under arrest. Since the MD has fled to the UAE, immediate legal intervention is crucial to:

✔ Speed up the investigation and asset recovery.
✔ Ensure stronger action against the accused.
✔ Prevent bail & force extradition.

1. Legal Options to Escalate the Matter to Higher Authorities

• File a Writ Petition in the High Court

  • Demand faster action by ED, EOW & SFIO to track assets.
  • Seek court-monitored investigation to prevent delays.
  • Request the Ministry of External Affairs & CBI to initiate extradition.

• Intervene to Stop Bail of the Accused

  • File an Intervention Application in the High Court opposing bail.
  • Argue that release may lead to tampering of evidence and loss of funds.

• File a PIL (Public Interest Litigation) for Investor Protection

  • Push for government action on investor fraud cases.
  • Demand stronger legal measures to seize assets and compensate victims.

2. Asset Recovery & Compensation for Investors

• ED under PMLA can attach assets of the accused.
• Investors can file a collective suit demanding a share in recovered assets.
  
• The High Court can direct the government to fast-track recovery and restitution.
  

3. Why You Need Immediate Legal Action

• Delay means the accused can move funds offshore, making recovery harder.
• A High Court petition forces agencies to act faster.
• 
  Strong legal intervention increases pressure on authorities to act against the accused and recover funds.

4. My Expertise in Financial Fraud & Asset Recovery Cases

• Extensive experience in challenging bail applications and filing High Court writ petitions.
• Proven track record in investor fraud cases, money laundering defenses, and asset recovery litigation.
• Ability to strategically draft legal petitions that push agencies like ED, EOW, and SFIO into action.

Next Steps – Let’s Take Immediate Legal Action

I can draft a High Court petition, challenge bail, and push for a government-monitored recovery process.

Let’s discuss a strategic legal plan.

Call or WhatsApp me at Nine Five Nine Two Five Zero Zero Zero Six Eight for a paid consultation, and I will take immediate action to protect your financial interests.

As a victim of financial fraud along with thousands of other investors, you have multiple legal remedies to escalate the matter and push for a speedy recovery of funds. Given that the Economic Offences Wing (EOW) and Enforcement Directorate (ED) are already investigating, your options primarily revolve around judicial intervention and investor representation.

Legal Options for Escalation and Recovery

1. Filing a Writ Petition in the High Court/Supreme Court

• You can file a Writ Petition (Mandamus) under Article 226 (High Court) or Article 32 (Supreme Court) to direct the investigating agencies (EOW, ED, SFIO) to expedite the investigation.
• The petition can seek:

  • Freezing and attachment of all assets of the company and its directors.
  • Directions to the Ministry of External Affairs to initiate extradition of the MD under India-UAE Extradition Treaty.
  • A directive for a court-monitored investigation to ensure accountability.

2. Intervention in Bail Matters

• You and other investors can oppose the bail applications of the arrested employees by filing intervenor applications in court.
• If bail has been granted, an appeal can be filed before the High Court or Supreme Court to challenge it.
• Investors can submit impact statements to highlight the gravity of the fraud.

3. Initiating a Class Action Suit (Representative Suit)

• Under Order 1 Rule 8 of the CPC, investors can file a representative suit on behalf of all victims.
• The suit can seek refund of money, liquidation of assets, and compensation.

4. Approach the Special Court Under PMLA

• Since the ED is investigating under the Prevention of Money Laundering Act (PMLA), investors can file an application before the PMLA Special Court to:

  • Ensure victim compensation from seized properties.
  • Prevent the assets from being misused by the accused.

5. Filing an Intervention Application in NCLT (If Insolvency is Initiated)

• If the company goes into insolvency, investors should immediately file claims in the National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code (IBC) to recover their money.
• Investors can push for the appointment of an insolvency resolution professional (IRP) to oversee asset distribution.

6. Request SFIO Investigation

• If the fraud involves complex corporate manipulations, investors can petition the Ministry of Corporate Affairs (MCA) to direct the Serious Fraud Investigation Office (SFIO) to take over the case.

7. Extradition and Red Corner Notice (RCN) Against MD

• You can request the CBI or the Ministry of External Affairs to coordinate with Interpol and issue a Red Corner Notice (RCN) to arrest the fugitive MD in the UAE.
• A petition can be filed in Supreme Court seeking a directive for extradition proceedings.

Conclusion

To expedite recovery and legal action, the best approach is:

1. 
   File a writ petition in the High Court/Supreme Court to direct agencies to fast-track the investigation and recovery.
2. 
   Intervene in bail matters to ensure no accused is released.
3. 
   File claims under PMLA and IBC for asset recovery.
4. 
   Push for extradition proceedings against the absconding MD.

Coordinated legal action from multiple victims will strengthen the case and ensure faster relief.

Thanks and Regards,
Advocate Aman Verma
Legal Corridor

1. File a Writ Petition in High Court or Supreme Court

• Under Article 226 (High Court) or Article 32 (Supreme Court), you can file a Public Interest Litigation (PIL) or Writ Petition seeking:

  • Expedited investigation by EoW, ED, and SFIO.
  • Strict action to prevent bail for the accused.
  • Coordination between agencies to track the MD who fled to UAE and initiate extradition.

2. Approach the Supreme Court for a SIT Investigation

• If the scale of fraud is large, the Supreme Court may direct a Special Investigation Team (SIT) to handle the case, ensuring transparency and efficiency.

3. File an Intervention Application in Pending Cases

• If there are ongoing bail applications, victims can file intervention applications before the court opposing bail.
• Request the court to impose strict conditions like surrendering passports, attaching assets, and ensuring non-interference in the investigation.

4. Investor Group Action – File a Representative Suit

• Investors can file a class-action suit under Order I, Rule 8 CPC to collectively fight for recovery of funds.

5. Ensure Attachment of Properties Under PMLA & IPC

• Under PMLA & IPC Sections 406, 420, 120B, ED can attach assets of the accused.
• You can request the High Court to auction assets to compensate victims.

6. Extradition Request to UAE

• File a petition urging the CBI/Interpol Red Corner Notice for extradition under the India-UAE Extradition Treaty.

7. Complaint to RBI / SEBI (if applicable)

• If the fraud involves regulated financial instruments, filing a complaint with RBI or SEBI can help impose stricter actions.

For detailed, personalized advice, consider a phone consultancy. Hope you find the information helpful. You are free to contact me for further discussion. If you could spare two minutes of your time to write a review, it would be greatly appreciated and bring immense happiness to read it. Thank you. Shubham Goyal.

An individual who loses money due to a financial scam or fraud perpetrated by a company in India can approach a court to seek recovery of their losses through a civil lawsuit; they can pursue both civil and criminal remedies simultaneously depending on the situation. 

To avail remedies available under civil law, victims can approach a framework of civil courts established to deal with commercial and civil cases involving financial frauds

The EOW police may also continue to initiate the actions at their end. But you can't get direction from court to instruct the police to expedite recovery process.

As a victim you can very well file an intervenor petition to record your objections to the bail application filed by the fraudsters.

Yes you can file the same

1. File an application under Section 388 (2) of B.N.S.S. 2023 seeking in Special Court seeking appointment of Advocate to assist the Such Advocate can seek that proceedings are fast tracked and also ensure that there is no negligence or any other delays for any reason. 
2. Under Section 46 of PMLA, Criminal Procedure Code, 1973 is application of proceedings under PMLA. Criminal Procedure Code, 1973 is replaced by B.N.S.S. 2023 hence same is applicable to all proceedings under PMLA.
3. No suit can be filed in proceedings under PMLA as jurisdiction of civil court is barred under the

Dear Client,

In cases of widespread financial fraud that affect thousands of investors, an option is to file a Public Interest Litigation (PIL) in the High Court or Supreme Court on behalf of the investor group, and seek judicial intervention to expedite investigations and fund recovery. Although the law does not give individual investors the privilege of intervening or directly taking control over agencies like the ED, EoW, or SFIO, a PIL can raise significant public interest issues that compel these agencies to act quickly. This can also be further supported by collective class action under the provisions of relevant securities or consumer protection laws, which may help to hold the accused accountable and seek compensation. You can think about making representations to SEBI or the Ministry of Corporate Affairs if the fraud pertains to securities. It is advisable to consider coordination with other aggrieved investors and seek the opinion of a lawyer specializing in financial fraud and class litigation for specific legal strategies.

Hope this helps. Please feel free to inquire for any further legal query.

Sir/Madam,

You are suggested to file caveat petitions before the High Court/Supreme Court regarding their bail application. Also, approach minsitry of external affiairs for bringing the owner and MD to India. Also, provide the information to the concerned investigating agency to get the case investigated rightly.