Dhruv Rathi v. Central Bureau of Investigation
Case brief
What is this about?
This criminal bail application was rejected. The High Court held that the applicant, a director, was clearly involved in an organized economic offense involving embezzlement of Rs. 7.79 crores through forged documents. The court found a strong possibility of absconding due to the applicant's alleged change of identity.
What did the court decide?
Bail of the applicant was rejected.
What the court decided
1
Court No. - 1
Case :- CRIMINAL MISC. BAIL APPLICATION No. - 35473 of 2017
Applicant :- Dhruv Rathi Opposite Party :- Central Bureau Of Investigation Counsel for Applicant :- Anand Mani Tripathi,Zafar Abbas Counsel for Opposite Party :- Amit Misra
Hon'ble Ramesh Sinha,J. Hon'ble Dinesh Kumar Singh-I,J.
- Heard Sri V.P. Srivastava, learned Senior Advocate assisted by Sri Anand Mani Tripathi, learned counsel for the applicant and Sri Gyan Prakash, learned counsel for the C.B.I.
- This application has been moved by the applicant to be enlarged on bail in F.I.R. No. RC 2202016E0015, under Sections 120B r/w 420, 467, 468, 471 IPC, P.S. and substantive offences u/s 420, 467, 468, 471 IPC, P.S. CBI/EOU/New Delhi, during the pendency of his trial in the court below.
- According to F.I.R., Sri M.N.K. Vishwanathan, Deputy General Manager & Zonal Head, Corporation Bank, Zonal Officer, made a complaint stating that the said Bank is a body corporate constituted under Banking Companies (Acquisitions & Transfers of Undertakings) Act, 1980 having its Head Office in Karnataka and a Zonal Office at New Delhi. On 31.5.2012, M/s Beverly Hills Fashions Pvt. Ltd. opened a current account CBCA 526 at that Bank's Noida-Mid Corporate Branch. The account was opened with due observance of KYC norms by obtaining all the documents. Director of firms were Mr. Girija Shankar Rathi and Mr. Dhruv Rathi (accused). Principal business of the firm inter-alia was manufacturing and trading of MS Wire, Wire Mesh etc. The unit was a newly established one and was yet to start manufacture/trading activity. The proposal was referred to the Branch by National Small Industries Corporation with whom, this Bank had entered into an MoU to scale up lending to SME sector. Based on the application of M/s Beverly Hills for certain credit limits, the branch submitted a Memorandum dated 25.6.2012 to the Zonal Office, Delhi-North
Issues for consideration
2 issues framed by the court
Whether bail should be granted to the accused applicant who is a director of the company alleged to have defrauded the bank.
Whether the accused applicant has absconded or attempted to conceal his identity.
Parties & counsel
- applicant
Dhruv Rathi
Coram
Ramesh Sinha
Dinesh Kumar Singh-I
Case details
As recorded by the court registry
- Court
- Allahabad HC
- Decided on
- · August
- Registered
- Case no.
- BAIL/35473/2017
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