CB arrests accused in Rs 1.44 Cr Bank loan scam after court rejects bail
STATE TIMES NEWS
JAMMU: Crime Branch (CB) on Friday arrested main accused involved in Rs 1.44 crore J&K Bank loan scam immediately after his pre-arrest bail was rejected by the Court of 2nd Additional Sessions Judge Jammu.
The accused, terminated J&K Bank employee of B C Road Jammu, has been identified as Rohit Taroch, son of Som Raj Taroch, resident of Rehari Ambphalla, Jammu.
According to the Crime Branch, the involvement of the alleged accused in FIR 47/2023 under offences of 420,467,468,471,120-B RPC registered in Police Station Crime Branch (EDW), has surfaced for criminal conspiracy and cheating by fraudulently facilitating loans in favour of beneficiary accused persons on the basis of fake and forged documents.
Thus succeeded in perpetrating a fraud to the aggregate amount of Rs 144.53 Lakhs upon the J&K Bank Branch BC Road. Jammu.
2nd Additional Sessions Judge Jammu Amit Sharma after hearing Advocate Inderjeet Shavotra for the applicant whereas APP Arvinder Rathore for the UT, observed that facts shaken the conscious of this court that on the one hand there are the ‘genuine set of customers’ who obtained loan of meager amount from the bank and the said amount will never be settled down.
Because the bank charges interest after the interest on the principal amount borrowed by these genuine customers . On the other hand, there are the ‘Fake set of customers’ in whose favour the bank sanctioned the loan and the said customers in active connivance with the officer/officials at the particular stage and level manages to obtained the loan from the bank on the strength of fake and forged document.
In such types of cases the bank will not able to recover even the principal amount and what to talk of an interest in the case of these fake borrowers. It is because of this reason number of recovery cases are pending before the court of law and the percentage of recovery in such types of cases is very minimal. After highlighting these admitted facts, it is imperative to state herein that there are various persons involved in this FIR who are yet to be arrested and the investigation of the case is still under progress whereas the accused is involved in an organized economic crime. With these observations, Court rejected the pre-arrest bail.
Senior Superintendent of Police Crime Jammu Benam Tosh confirmed that main accused involved in FIR 47/2023 has been arrested after his bail application was rejected by the Court and investigation of the case is underway.
