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India Today
4 days ago
- India Today
Cops acted in haste: High Court declares Anchor Group director's arrest illegal
The Bombay High Court has declared the arrest of Hemang Shah, the 50-year-old director of Anchor Group, illegal and has reprimanded the police for acting in undue was arrested on allegations of financial fraud levelled by his elder brother Mehul Shah. He was detained at Delhi airport on May 17 while attempting to travel to Oman's Muscat based on the LOC issued against him, and was then brought to Mumbai. According to prosecutors, a formal arrest was made the next its judgment, the High Court ruled there was no necessity to detain Shah in a display of "zeal and enthusiasm", and suggested that the arrest appeared to be aimed at recovering a disputed financial sum. The court came down heavily on the conduct of the police, observing that the registration of the complaint at 2.14 am on May 14 - just after midnight - and the issuance of a Look-Out Circular (LOC) the same day reflected "alarming urgency".Shah filed a petition before the Bombay High Court challenging his arrest. Representing Shah were a legal team comprising senior advocate Ravi Prakash and advocates Munaf Virjee, Aditya Dewan, Debopriyo Moulik and Sagar Shetty, who appeared along with AMR Law and Hrituraj plea argued that the matter was a financial dispute between Shah and his elder brother, Mehul, and father, and attempts were being made to resolve it through said that immediately after Shah's arrest, Mehul Shah's wife contacted Hemang Shah's wife, pressuring her to bring a cheque book to the office of the Economic Offences Wing (EOW). Chat messages allegedly evidencing this were submitted before the reviewing these chats, the bench concluded that "the objective behind the petitioner's custody was the recovery of the amount being negotiated through mediation".Shah also claimed he was detained at Delhi airport around 5.30 pm on May 17 and was produced before a magistrate at 10.45 pm the next day - over 24 hours later - making the custody unlawful. While he was informed of the grounds for his arrest, no relative, friend, or nominated person was notified, his legal team contended. They alleged that the arrest was used as a tool to coerce and pressure prosecution argued that Shah and the EOW officials reached Mumbai at 10.30 am on May 18, following which he was formally arrested at 7.30 pm and produced before the court later that night. They also claimed Shah's father was informed about the the court rejected the prosecution's argument, calling it "astonishing and shocking", noting that Shah's father was himself one of the complainants in the Watch IN THIS STORY#Mumbai
Time of India
7 days ago
- Business
- Time of India
Anchor Group's Hemang Shah released by Bombay HC in case stemming from family dispute
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Bombay High Court on late Friday night, directed the release of Hemang Jadavji Shah, Anchor Group director, observing that the arrest by the Economic Offences Wing (EOW) of the Mumbai police earlier this month was 'illegal'.The division bench of Justice Gauri Godse and Justice Somasekhar Sundaresan, while declaring the arrest illegal and unnecessary, ordered his immediate release.'We did not find any such tearing hurry to initiate action to take the petitioner into custody with such zeal and enthusiasm,' the court observed in its 27-page detailed order. '...there is a violation of the petitioner's right guaranteed under Article 21 of the Constitution of India ,' observed the genesis of the dispute lies in the complaint filed by Shah's brother, Mehul and their father at the Economic Offence Wing (EoW) at Malabar Hill Police Station, regarding certain alleged financial misappropriation and criminal breach of trust The complaint filed at the EoW alleged financial transactions were undertaken between 2020 and 2025 under the garb of investments in mutual funds to seek higher Advocate Ravi Prakash, along with Munaf Virjee, Managing Partner of AMR Law, appeared for Hemang Shah and argued before the court that the arrest of the petitioner was illegal in the facts and circumstances of this present case and violates the fundamental rights of the petitioner under Article 22 (2) of the Constitution of Shah family-owned Anchor Group launched GreatWhite switches to challenge a brand it created four decades ago and sold to Panasonic (then Matsushita Electric Works) for Rs 2,000 crore in in 1963 by Shah brothers Damjibhai and Jadavjibhai, is now managed by their sons. Late Damjibhai's sons, Atul and Sanjay, handle Anchor Health & Beauty Care and Jadavjibhai's sons, Mehul and Hemang, oversee businesses such as real estate, paints and writing instruments.
