The Court order does not favour family claims


UNMESH GUJARATHI
Sprouts Brand Story

Nearly three decades have passed since the stock market scam concerning the late big bull Harshad Mehta and his family members hit the headlines in both print and electronic media. However, to this date, the resolution of the financial claims made by the family members is nowhere in sight.

Ironically, a special court was set up for the purpose of fast-tracking the imbroglio over the financial deals.

Thirty years later, the Special Court judge, AK Menon has ruled that the family’s claim for a refund of over INR 5,500 crore stands unwarranted at least till the tax departments arrive at a final conclusion over the duties to be paid.

Late Harshad Mehta’s brother, Ashwin Mehta, having turned lawyer is representing the family in the Special Court. During the course of the arguments in the Special Court, Ashwin averred that the custodians dispatched more than a dozen letters to the IT department, and to this date, there is no response forthcoming.