Mumbai: Court rejects bail pleas of 3 accused in Torres fraud case

Khasatova had claimed that she is not connected to Platinum Hern Pvt Ltd, which runs the Torres jewellery brand, and that she herself had invested Rs 8 lakh in the company and suffered losses. Kumar and Surve, too, had claimed that they were not connected to the decision-making in the company.

Additional public prosecutor J N Suryavanshi opposed their bail pleas, stating that the investigation was still ongoing and over 10,000 investors had complained with the suspected fraud amount reported to be over Rs 117. 63 crore. The detailed order is yet to be made available.

On January 6, 2025, Mumbai police registered an FIR, alleging that investors were promised high return investments and were later duped.