Rs 9-crore bank fraud: CBI court frames charges against 5 accused in Chandigarh

Tribune News Service

Chandigarh, December 7

Inderjeet Singh, Special Judicial Magistrate, CBI, Chandigarh, has framed charges against five accused in an alleged Rs9-crore fraud case with Canara Bank.

The charges have been framed against Vikas Walia, Vernika Walia, Anil Kumar, Ashwani Kumar and Ved Parkash Gupta for the commission of offence punishable under Section 120-B read with Sections 420, 467, 468 and 471. The accused pleaded not guilty and claimed trial.

Meanwhile, the CBI court has deferred the hearing in the case for December 10 for framing of charges against the remaining accused - Vishal Mehta, Madhu Verma and Shobhit Verma.

The CBI had registered an FIR on the basis of a complaint filed by the General Manager, Canara Bank, Chandigarh, on December 27, 2018, in the alleged fraud case.

It was alleged in the chargesheet that Vikas Walia and Vernika Walia approached Canara Bank for loan facility concealing facts. The bank considered the request and sanctioned cash credit limit facility to the extent of Rs15 crore in 2014.

During investigation, the CBI found that the accused had misused the loan amount disbursing its 50 per cent among sister companies. It was alleged their only intention was to defraud the bank and misappropriate the funds. The accused did not use the credit facility for business-related purposes. The facility was misused by them for transferring the amount into their own sister concern.

The CBI alleged that the act of defrauding was done by them at the time of availing of credit facility allegedly in connivance of the valuer, who managed to show the inflated valuation of the properties offered as collateral security to the complainant bank.

While opposing the discharge applications of the two accused, Narender Singh, public prosecutor of the CBI, argued that the documentary evidence reflects that the beneficiary accounts were opened by these accused. A huge amount was transferred into the accounts opened by the accused from the account opened by accused Vikas Walia. These facts reflect the criminal conspiracy of the accused to cheat the bank.

The court said at this stage of framing of charges it was only required to take into consideration whether a prima facie case was made out or not on the basis of the material produced before the court by the prosecution/ investigating agency.