High Court Demands Resolving Sameer Joshi's Case by August
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The Bombay Court's Nagpur Bench has mandated that the ongoing case against Sameer Joshi in the Akola Sessions Court be resolved by August of next year. Sameer Joshi is charged with stealing Rs. 200 crore from 5000 investors.
The High Court has mandated on March 2, 2022, that the case be resolved in a year. However, this matter could not be resolved till today for a variety of reasons. as a result, on January 29, 2024, the Sessions Court applied for a time extension to the High Court. On the application, Justice Urmila Joshi-Phalke presided. She gave herself an extra six months to finish.
The scam's architect, Sameer Joshi, enticed investors with promises of 25–40 percent annual profits. To trick the investors into falling into this trap, he had designated multiple agents. Through the occasional organization of investment programs, he used to deceive the populace.
The fraud was eventually discovered when investors stopped receiving the payments and returns that Joshi had promised. Amit More of Somalwada made the initial complaint against Joshi and the other accused at the Rana Pratapnagar Police Station on September 14, 2013. Following that, the police stations in Akola and Amravati also received FIRs against the offenders.
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