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| Special Judge CBI Bala Jyoti frames charges against bank, revenue officers, CAs | | 'Galaxy Hatcheries' Conspiracy Case | |  Early Times Report
Jammu, Feb 23: Special Judge Anti Corruption and CBI, Bala Jyoti on Friday framed charges against senior Bank Officers and Chartered Accountants and revenue officials for hatching a criminal conspiracy in M/S 'Galaxy Hatcheries' case.
Special Judge CBI Bala Jyoti after considering all the contentions and case laws placed on record it appeared that there are sufficient grounds to proceed against all the accused persons as prima facie, it appears that there is ample material on record against all of them.
Thus in pursuance to criminal conspiracy, all the accused persons have prima-facie found to have committed offences under different sections. The contents of charges were read over to them separately. They did not plead guilty and claimed trial. The court fixed the next date of hearing on 3/04/2024 for prosecution evidence.
According to the chargesheet presented by the CBI the accused were guilty of commission of offences under sections 120-B, 420, 467,468, 471 RPC r/w 5(1)(d) r/w 5(2) PC Act Samvat 2006.
The FIR No. RCO042014A0003 dated 11.04.2014 was registered under section 120-B r/w 120-B, 420, 467,468, 471 RPC r/w 5(1)(d) r/w 5(2) PC Act Samvat 2006 in CBI ACB Jammu against all the accused persons. It was alleged in the FIR that all branch heads T.R Dogra, the then Chief Manager, N K Bhardwaj and C L Koul, the then Branch Head, Bank Baroda, Gandhi Nagar Branch Jammu, during the period 2007-2011 sanctioned and disbursed huge number of loans fraudulently to Rajneesh Raina, his wife Meenakshi Raina, and their firms, against already mortgaged properties, those were fraudulently, over- valued and the accounts turned NPA with a total outstanding of Rs. 6.5 crore.
It was further case of prosecution that Meenakshi Raina, Proprietor of M/s. "Galaxy Hatcheries' obtained CC limit of Rs. 30 lakhs and term loan of Rs. 8 lakhs in November 2007, on the recommendations of T R Dogra, the then Chief Manager, Bank of Baroda, Gandhi Nagar Branch Jammu in the name of firm and in Sept 2008 the CC Limit was encashed from Rs 30 Lakhs to Rs 60 lakhs on the recommendations of N K Bhardwaj, the then senior manager, Bank of Baroda, Gandhi Nagar Branch Jammu in the month of June 2010, even CC Limit of Rs. 60 lakhs was encashed to Rs. 80 lakhs with review of term loan of Rs. 3.31 lakhs purely on recommendations of C L Koul by mortgaging land and building of the Hatchery Unit' Raipur DomanaJammu by fraudulently over-valued Rs. 107.21 lakhs and fresh security of open land measuring 2 Kanals and 16 Marlas in the name of Ra Special Judge CBI Bala Jyoti after considering all the contentions and case laws placed on record observed that it appeared that there are sufficient grounds to proceed against all the accused persons as prima facie, it appears that there is ample material on record against all of them. Thus in pursuance to criminal conspiracy, all the accused persons have prima-facie found to have committed offences under different sections.
The investigations revealed that M/s. Galaxy Hatcheries' to which a term loan of Rs. 8 lakhs and CC Limit of Rs. 80 lakhs was given during the period 2/11/2007 to 22/6/2010 was only on papers as constructed and running on 3 Kanals of land located at Khasra No.2171, Khewat No.03, Khata No.277 at Raipur Domana, but the said firm was found non-existent.
It was also found during investigation that aforesaid land was situated at a hill-top' and surrounded by thorny bushes without any approach road and had no construction over it.
Even the sale deed dated 16.04.2007 of land of M/s. 'Galaxy Hatcheries, was mortgaged with the Bank for facilitating the loan which was found forged and false and even accused Meenakshi Raina Proprietor of M/s. 'Galaxy Hatcheries', furnished false and fabricated documents during the loan application dated 15.10.2007 to obtain the loan and during investigation, it was also found that even Bishan Dass who is shown to have been sold 3 Kanals of land in Khasra No.2171 Min, Khewat No.03 and Khata No.277 at 'Raipur Domana actually had not executed any sale deed in the Court of Sub Registrar Jammu and investigation further revealed that aforementioned accused officers facilitated the borrower in diverting the major loan amount.
Besides, borrower issued bearer cheques for huge amounts in favour of Bogus firms i.e M/s. Global Breeding, Isma Engineering Store, R.K Hatchery, OM Traders Mor Hatchery Shiva Traders, V.K Traders and all the same were encashed through accused Narinder Sayal and Surinder Kumar Salgotra, both employees of Rajneesh Raina.
Thus accused Meenakshi Raina entered into a criminal conspiracy with accused bank officials and other accused and in pursuance to criminal conspiracy loan was sanctioned dishonestly and fraudulently against non-existent property and was further siphoned off.
The Public Prosecutor reiterated that in pursuance to conspiracy accused H R Phonsa, the then valuer prepared the valuation report dated 16.10.2006 and accused Dinesh Chander also prepared valuation report dated 05.03.2008 to facilitate enhancement of loan submitted false and inflated valuation report and in furtherance of criminal conspiracy accused Dharam Singh, Patwari made a false note dated 21/11/2007 to the effect that lien of the Bank was marked in the concerned land revenue records. |
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