SANJIB KUMAR DEY Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) This hearing has been done through hybrid mode.

(2.) The present petition has been filed by 63 Petitioners from across the country against Respondent No. 1- Enforcement Directorate (ED) as also a total of 63 private Respondents which include companies and their Promoters/Directors. A tabular representation of the Private Respondents is as follows:

(3.) The allegation of the Petitioners is that these Respondents, with the assistance of the Karvy Group of Companies, floated various ponzi schemes into which the Petitioners were lured to make investments. As per the petition, approximately one thousand (1000) individuals invested their hard earned money in these ponzi schemes. It has been estimated that the cumulative amount invested in these schemes totals Rs.800.00 crores.