The sessions court rejected the anticipatory bail plea of a 63-year-old retired bank manager who was arrested for ‘casually’ sanctioning a loan worth ₹2.50 crores to property without proper verification of a company, which later turned out to be fake.
Balkrishna Vyas, a resident of Indore, was the bank manager of Bank of India when the alleged fraud took place in 2014.
As per the complaint lodged with Mahim police on May 26, 2018, by Rafiq Maniyar, one Sunil Gupta had availed the loan of ₹2.50 crore by mortgaging his property illegally to Bank of India, Kalbadevi branch.
According to an informant, in the year 2014, due to financial issues, he approached co-accused Sharad Rochlani through mediator for selling his property situated at Dasai Naka, Murbad. Rochlani gave him ₹8 lakh as a token amount and informant gave him documents of his property. In the year 2016, he received notice of Bank of India. On enquiry, he learnt that his property is mortgaged by Rochlani for availing the loan in the name of Sunil Gupta.
On the complaint, the Mahim police summoned the bank manager to join the investigation. Fearing arrest, Vyas approached the court for pre-arrest bail and claimed after receipt of the loan application, a necessary procedure like spot inspection, search report from registrar office and other miscellaneous things were done with due diligence. He has no concern with the fraud committed by the co-accused.
{{/usCountry}}On the complaint, the Mahim police summoned the bank manager to join the investigation. Fearing arrest, Vyas approached the court for pre-arrest bail and claimed after receipt of the loan application, a necessary procedure like spot inspection, search report from registrar office and other miscellaneous things were done with due diligence. He has no concern with the fraud committed by the co-accused.
{{/usCountry}}The prosecution objected to the plea and claimed the loan which is sanctioned for expansion of Gayatri Export Company is a fictitious company. The applicant has misused his authority and caused wrongful loss to the bank and wrongful gain to the co-accused. It is further contended that the applicant and other bank employees are also involved in the alleged scam.
The court while rejecting the plea observed that, “Survey of the application and appended documents indicates that applicant being custodian has processed the loan proposal hastily without verifying the loan documents. The co-accused who are bank employees had visited the spot and submitted a fake report at the connivance of the applicant. Though the loan was sanctioned for expansion of Gayatri Export Company, all the documents are found false and fabricated. The loan of ₹2.5 crore is sanctioned casually.”
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