Srinagar, Dec 23: An anti-corruption court today granted bail to a former manager of Canara Bank branch Budshah Chowk Srinagar in connection with case regarding loans to non-existent business units.
According to news agency GNS, the case (40/2017 under section 420 RPC) was registered by Police Station Maisuma on a complaint from current Manager of Canara Bank regarding disbursement of loan worth Rs 10 Crores to seven business units which failed to repay the loan amount.
“During investigation it surfaced that some cheaters hand in glove with the then Manager of Canara Bank dishonestly and fraudulently doctored documents to sanction loans for the business units which in reality where non existing,” a police spokesman had said .
A resident of Assam, the ex-manager, Mukhti Nath Doley, was granted bail till January 17 was special judge anti-corruption court Srinagar Yash Paul Bourney after hearing his counsel, advocates Aamir Masoodi and Shahzaad. Doley also furnished two surety bonds in the amount of rupees one lakh each before court and has been asked to furnish personal bond in the like amount before the SHO of police station Maisuma Srinagar or Superintendent Central Jail Srinagar.
“The surety bonds in the sum of Rs 1,00,000 have been submitted on behalf of accused (Doley) and the same have been accepted by this court, as such, you are, hereby, directed to release (Doley) from custody in the case after obtaining personal bond from him in the sum of Rs. 1,00,000,” the court according to GNS said.
The court also put certain conditions on bail and asked Doley to remain available with the Investigating Officer for further investigation daily at the time and hours required by IO and extend his full co-operation towards the affairs and impartial investigation.
While on bail, the court said that Doley shall not in any way threaten or induce or intimidate or even to contact the prosecution witnesses.
Doley has been also barred from leaving the territorial jurisdiction of the court without its prior permission.
“He shall not indulge in like or any kind of crime henceforth,” the court said and also asked him to surrender his passport before the Investigating agency forthwith, if not surrendered till date.
“Violation of any of these conditions would result into immediate withdrawal of this order,” the court said. (GNS)