Shreyas Talpade Embroiled In Fraud Cases, Gets Relief From Supreme Court

NEW DELHI (IANS)-  The Supreme Court, in an interim order passed on July 21, granted protection from arrest to Bollywood actor Shreyas Talpade. This decision follows multiple FIRs filed against him in various states for allegedly duping individuals of crores through a chit fund scheme.

A Bench of Justices issued notices to the states of Haryana, Uttar Pradesh, and Uttarakhand, as well as to the Centre. The writ petition filed by Shreyas Talpade — seeking directions to club multiple FIRs and transfer the investigation to Lucknow — has been posted for further hearing on August 29. In the interim, the court ordered that no coercive steps would be taken against the petitioner in connection with the alleged fraud cases.

Talpade and other accused were allegedly operating a company named ‘The Loni Urban Multistate Credit and Thrift Cooperative Society Limited,’ which promised villagers lucrative returns on their investments. Agents of the company reportedly lured hundreds of people by assuring them their money would double in a short span. However, after collecting crores from unsuspecting villagers, the company allegedly shut down operations and absconded.

The fraudulent scheme had been operational in Mahoba for the past 10 years before coming under legal scrutiny. In February this year, an FIR was registered against Shreyas Talpade and actor Alok Nath in Uttar Pradesh for duping investors of over Rs 9 crore. They, along with five members of a credit cooperative society, were booked in a fraud case at Gomti Nagar Police Station in Lucknow.

Previously, they, along with 11 others, were implicated in a similar case in Sonipat, Haryana, connected to a multi-level marketing fraud. The controversy centers around a cooperative society that had been soliciting investments for six years, assuring high returns. Reportedly, Alok Nath and Shreyas Talpade had promoted the investment schemes of the society, lending credibility to the fraudulent operation.