What is Goodwin Scam?

Rome was not built in a Day, but we tried building wealth in a year with 16% interest in a moderate growing economy. Well, to err is Human! However, this gives no right to other person to loot our hard earned money and make our life miserable.

We make mistakes, learn from it and move forward in life, in the instance of Goodwin Jewellers Scam, Goodwin brothers designed collective investment schemes to loot hard earned money of citizens of Maharashtra and other states and partially succeeded in doing same, but it is a saying that “no crime is perfect”.

Investors across Maharashtra have deposited money with Goodwin in a ponzi scheme and now the question is how to get the investors money refunded?

All investors are coming under one banner and persuading the law enforcement agencies to work efficiently and unearth all the assets of the Goodwin brothers and to get our money refunded from disposing off the assets of the brothers. Goodwin Investors Association approached Honorable Supreme Court and prayed for transfer of investigation to central investigation agency, and the Honorable Supreme Court directed the investors to approach High Court.

Now the High Court & NCLT proceeding is being closely monitored by the association and subsequently a plan of action has been charted out to deal with the situation.

About Association (GIAOP)

SELF HELP IS THE BEST HELP

There are enough proofs to establish that the Goodwin Brothers had for sure pre-planned the scam, which has derailed the lives of thousands of unassuming victims. There are many symptoms that point to that conclusion. One fine day after the Goodwin Brothers pulled the shutter of all their showrooms, we the victims were left with no option but to fight it out legally until we recover our hard earned money.

Most of the victims come from middle class and lower middle class brackets. A good percentage are Senor Citizens who trusted them with their 'Life's Savings'. None of us can fight a legal battle alone, considering the prohibiting costs of the long drawn litigation. We, the 'Victims of the Goodwin Scam' realizing the fact that, recovering their hard earned money from the absconding Goodwin Brothers is going to be a time consuming process like in every other financial fraud cases, have got together & formed an Association of Persons, in the style of "GOODWIN INVESTORS’ ASSOCIATION" (GI-AOP Regd 839/2019) with the sole intention to do 'all that is possible' to fast track the otherwise sloppy processes.

Subsequent to formal registration, Income Tax Department has allocated PAN No.AAFAG8551J

INVESTIGATION PROCESS

The police stations were actively followed up by dedicated groups of GIAOP to ensure that matter was passed on to the EOW. Despite repeated follow ups, it took several weeks before transferring the matter to EOW. It may take several months before any tangible action is taken if matter is allowed to take its own course. Being fully apprehensive that EOW investigations will take several months to even file a charge sheet in a lower court and may take several years before the matter can reach even a sessions court, GIAOP started knocking at every legal option including the Hon SUPREME COURT of India & the Hon BOMBAY HIGH COURT.

OUR LEGAL COUNSEL ADV PAWAN PRAKASH PATHAK

Our young and energetic Counsel is a very popular member in the Bar council of the Supreme court , having handled several high profile cases & made a mark in such young age. Adv Pawan is passionately involved in the entire matter as some of his close family members are victims of the scam. He has agreed to work for us in the HIGH Court as well as other Forums, till all its members recover their lost fortunes. We do not believe that our matter should drag feet for years together, in a local MPID court. His knowledge & experience in similar matters, and his foresight prompted us to start the whole process by GIAOP filing a PIL in the Supreme court as early as mid Dec 2019. Armed with Supreme Court Order, our case No CivilPILST-1008-2002 is lodged & is pending in the Bombay High Court. Though GIAOP's Counsel appeared before Hon Justice S C Dharmadhikari on 21-01-2020 to mention the urgency, but he resigned a few days later. Bombay High Court was to hear our matter on 20/03/2020. It has come up OUT OF TURN only because of the large number of 'compassionate ground' petitions, we submitted to the Hon Chief Justice. Unfortunately for us, the lockdown due to Covid-19 pandemic, has caused more delays.

Timeline of activities by GIAOP

Action Plan

Goodwin Investors Association (GIAOP), a registered association consisting only of unsecured investors of Goodwin Jewellers, has a core committee of volunteers who have been instrumental in forming and registering this association and also carrying out multiple initiatives to create more awareness amongst investors and garner support.

As future course of action in the interest of its registered members, the core committee has chalked out a plan to approach the Bombay High Court once the court reopens in January 2020 after the Christmas break and also immediately take up the matter with NCLT in response to the advert published on 20th December 2019 by IRP Pankaj R. Majithia with a goal to raise our concerns on behalf of the investors who have registered themselves as members of the association and be considered as high priority creditors during the Insolvency Resolution Process. Further amendments and updates on this matter will be communicated through this website as and when required.

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