Court order on frozen Heera a/c on Nov 5

HYDERABAD: The metropolitan sessions judge at Nampally court on Thursday reserved its order on de-freezing the bank accounts of Heera Group till November 5. After hearing the arguments of the public prosecutor and defence counsel, the court decided to pass its orders on the next date of hearing.

Earlier, Heera Group counsel Vineet Dhanda argued before the court that the act of freezing all the bank accounts of the group is contrary to the law and also puts at stake the interests of investors.

Finding fault with the prosecution’s claim of diversion of funds, the defence further lawyer contended before the sessions judge that the alleged embezzled amount in the specific case registered by the Central Crime Station (CCS) is only Rs 25 lakh, whereas the police have frozen all the accounts of Heera Group, which has balance running into crores of rupees.