Five of the 10 men arrested in a multi-crore bank fraud case fled from the magistrate court on Wednesday. The court has now issued non bailable warrants (NBWs) against the five. All five accused had approached the court seeking bail in the bank fraud case, which was registered against them in 2013.
Five of the 10 men arrested in a multi-crore bank fraud case fled from the magistrate court on Wednesday. The court has now issued non bailable warrants (NBWs) against the five. All five accused had approached the court seeking bail in the bank fraud case, which was registered against them in 2013.
Under whose custody were the five men?
When dna contacted CBI spokesperson Kanchan Prasad, she confirmed the development, saying that she was aware that NBWs were issued against the accused by the court.
"According to the information I received, the five were not in custody of the CBI, but in jail custody. They had approached the court seeking the bail in the case," she said.
They fled when asked to pay bail surety
Prasad added that accordingly, the court went through the arguments and granted them bail, asking them to pay the surety of Rs3 lakh in cash. "Without paying the surety amount, the five fled the court's premises. When the same was brought to the court's notice, it issued NBWs against all of them," the spokesperson added.
Who were the five who fled?
The men who fled the magistrate court have been identified as Ali Abbas TA Charania, Tehsen Abbas MH Charania alias Pappu bhai, Prakash Pipalia, Vyas Anand SJ Pipaliiya and Dhaval Ashokbhai Pipaliya
What were the details of the charge sheet filed?
As per the charge sheet, a complaint was filed in 2013 on behalf of all consortium banks comprising State Bank of India and Vijaya Bank led by Central Bank of India.
The charge sheet reads that four of the other accused men – RB Vinod Kumar Nair and Ashok Rao, the directors of M/s Chakra Udyog limited; YJ Shriyan, the then senior manager of the Central Bank of India, Overseas bank, Mumbai and VV Natarajan, the then chief manager, Central Bank of India, Overseas Bank, Mumbai – cheated the consortium banks.
How were the consortium banks cheated?
This was done by way of getting the limits enhanced or renewed for M/s Chakra from the banks by mortgage of the flats which were no longer in possession of the accused, by submitting bogus and inflated stock statements and availing of multiple financing by the directors of the company in conspiracy with public servants on the basis of same stock from consortium banks and some other banks.
What was the total loss?
Due to the wrongdoing of the accused, the consortium banks suffered a loss to the tune of Rs216,58,14,790.43
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