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Supreme Court Grants Interim Arrest Protection to Shreyas Talpade in Cooperative Scam Probe

A bench led by Justices B V Nagarathna and K V Viswanathan stayed coercive measures as it plans to consolidate FIRs across Haryana, Uttar Pradesh, Uttarakhand and the Centre before an August 29 hearing.

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It has been alleged that they were its brand ambassadors and victims get lured to invest because of such personalities, said police.
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Overview

  • The Supreme Court granted Talpade interim protection from arrest and stayed all coercive steps in the cheating and criminal breach of trust case linked to the Human Welfare Credit Cooperative Society.
  • Justices B V Nagarathna and K V Viswanathan issued notices to Haryana Police, Uttar Pradesh and Uttarakhand authorities, as well as to the Centre, on Talpade’s petition.
  • The court ordered that no coercive action may be taken against Talpade until the next hearing on August 29, when it will consider a request to club multiple FIRs filed in different states.
  • The Sonipat FIR, registered on January 22 under Sections 316(2), 318(2) and 318(4) of the Bharatiya Nyaya Sanhita, 2023, names 13 accused, including Talpade and Alok Nath.
  • Investigators are set to probe allegations that the society’s brand ambassadors lured investors into high-return deposit schemes that began defaulting on payouts in 2023.