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| HC rejects bail application of main accused | | Multi-crore Finance Company Scam | | Early Times Report
Jammu, June-17: In a significant order Justice Puneet Gupta of Jammu and Kashmir High Court (Jammu Wing) has rejected the bail application of a prime accused namely Mohammad Toyab Choudhary son of Mohammad Bashir of Village Panhad, Rajouri in a multi-crore Finance Company Scam wherein more than 900 people belonging to remote areas of Rajouri District were duped of Rs.12,76,37000/- (Rs Twelve Crore Seventy Six Lakh and Thirty Seven Thousand Only).
After hearing Senior Advocate Sunil Sethi with Advocate Waheed Choudhary appearing for the applicant/accused whereas Deputy Advocate General Arshad Majid Malik appearing for Crime Branch Jammu, Justice Puneet Gupta while rejecting the bail application observed that Deputy AG A.M. Malik has vehemently argued that mere filing of the charge sheet against the accused cannot be the sole criteria for granting bail to the accused as the supplementary charge sheet is yet to be filed on the completion of the investigation and the arrest of some of the accused persons is yet to take place.
The counsel for Crime Branch Deputy A.G. A.M. Malik also invited the attention of the Court towards the detailed status report/objections wherein it was divulged by Crime Branch that accused Mohammad Tayob Choudhary has purchased a brand new vehicle bearing registration No.JK11D-5945 (Mahindra Scorpio S-11) on December, 15, 2018 and as per the report of ARTO Rajouri the vehicle in question is registered in the name of Mohammad Tayob Choudhary and has been purchased by him for an amount of Rs.15,47,136/- on cash payment and during questioning the accused could not prove any other source of income to purchase the above said vehicle on cash. During investigation the accused confessed that the above said vehicle has been purchased out of the public money. Deputy AG A.M. Malik also pointed out from the report that during the course of investigation 15 individual depositors voluntarily attended Crime Branch Jammu and revealed in their statements that they were lured by the accused and others by means of cheating and fraud and have suffered great losses.
After considering the submissions of both the sides through virtual mode, Justice Puneet Gupta of J&K High Court (Jammu Wing) rejected the bail application with the observation that the court does not find substantial change of circumstances to grant bail to the accused after the dismissal of the earlier application filed by the applicant for bail and the Court finds no reason to allow the application at this stage and is accordingly dismissed. (JNF)
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