QNet Scam is relieved when the Supreme Court delays 19 cases and granted Ferreira bail. - QNET India

In a cheating case, the Supreme Court delayed proceedings in all 19 FIRs filed against QNet Scam direct selling company (Qnet India) across the country while giving bail to former world billiards champion Micheal Ferreira and another officer of the firm's India franchise. QI Group of companies.

Ferreira and Malckolm Noser Desai of Vihaan Pvt Ltd were detained six months ago on suspicion of operating ponzi schemes and breaking Indian laws.

A bench of Justices Pinaki Chandra Ghose and Rohinton Fali Nariman ruled that further proceedings in all 19 FIRs would be stayed for the reasons indicated in the duo's appeal.

They had surrendered to a trial court in Mumbai after the Supreme Court refused to grant them anticipatory release in September 2016.

"Having view to the fact that the petitioners 2 and 3 before us, viz., Michael Joseph Ferriera and Malckolm Nozer Desai, are remanded in jail custody for almost 6 months, they are instructed to be released on bail, subject to certain conditions," the bench stated in granting them relief.

The court ordered them to post bail bonds of Rs 25,000 apiece with two sureties.

It further requested that they register their presence at the relevant police station and provide the trial court with their residential address. They have been told not to alter their address without the trial court's consent.


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