Bank fraud: Bail denied to accused Neeraj Kochhar

Chandigarh, June 28

A local court here has denied the anticipatory bail to Neeraj Kochhar in an alleged multi-crore bank fraud case.

The case against Kochhar was registered in 2017. He, along with others, has been booked following a complaint by CR Sebastian, chief manager, Catholic Syrian Bank, Sector 34. An amount of Rs602 lakh is involved in the matter, claimed the assistant public prosecutor while opposing the bail plea of Kochhar.

The prosecutor alleged that the petitioner had introduced loanees to the co-accused and the then branch manager of the bank, Suku. Kochhar also introduced other persons pertaining to different loan accounts to Suku for grant of loans for business purposes on different intervals.

The co-accused after consulting with Kochhar submitted the loan application before the bank, claimed the prosecutor.

He is the mastermind of the entire fraud, the prosecutor argued, adding that regular raids had been conducted to nab the accused but they were absconding. The counsel for Kochhar said “vague allegations” had been levelled against him and he wanted to join the investigation. After hearing the arguments, the court rejected the bail plea. — TNS