Days after Mumbai police initiated an investigation into the alleged multi-crore Torres Jewellery fraud case, Abhishek Gupta, a 31-year-old chartered accountant, has approached the Bombay High Court seeking police protection. Gupta, who prepared the company's audit report last December, claims to be the whistleblower in the case and alleges threats to his life.
The Bombay High Court, led by a division bench of Justices Revati Mohite Dere and Neela Gokhale, heard the plea on Friday and has posted the matter for Monday. The court granted Gupta's lawyer the liberty to include the Economic Offences Wing (EOW) of the Mumbai Police as a party to the petition after it was revealed that the EOW had not been named in the original plea.
Allegations and Threat Perception
Gupta alleges that he uncovered massive financial irregularities and non-compliance while preparing the financial audit report for Torres Jewellery for the financial year 2023-24, dated December 26, 2024. He claims to have reported these findings to the company's director, Sarvesh Surve, 32, in line with his professional obligations.
According to the petition, Gupta was allegedly physically intimidated at the company's Lower Parel office, his cell phone confiscated, and was offered Rs 5 crore by three Ukrainian nationals to suppress the fraud or face severe consequences. Gupta also claimed that despite approaching the N M Joshi Marg police station on December 29, 2024, his complaint was not accepted.
Petition Highlights
Gupta's petition argues that he is a vulnerable witness and fears being scapegoated in the case. He has requested police protection, citing a January 6 application to the Additional Commissioner of Police (Protection and Security) that was allegedly ignored. Additionally, Gupta has sought the transfer of the investigation to the CID or the formation of a Special Investigation Team (SIT) for a more effective probe into the alleged fraud and Ponzi scheme.
State's Response
Additional Public Prosecutor Prajakta Shinde stated during the hearing that she was unaware of the details of the FIR filed by the EOW and required instructions to proceed. She added that the state had called for a report to evaluate Gupta's alleged threat perception following his application for protection.
Background of the Fraud
The Torres Jewellery fraud case came to light when investors lodged an FIR on January 6, 2025, at Shivaji Park police station, accusing the company of defrauding them of crores of rupees. Director Sarvesh Surve also wrote to the Prime Minister and other authorities on January 2, 2025, highlighting the alleged fraud.
The case has drawn attention due to the involvement of foreign nationals and the magnitude of the alleged financial fraud, with calls for stringent investigation measures to protect whistleblowers and bring the culprits to justice.
Court's Next Steps
The High Court will resume hearing Gupta's plea on Monday. The decision to include the EOW as a party to the petition is expected to expedite the investigation and ensure greater accountability.
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