RAJU VERMA Vs. STATE OF NCT OF DELHI

JUDGEMENT

(1.) The present bail application is filed under Sec. 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 ["BNSS"] arising out of FIR bearing No. 19/2023, under Ss. 420/409/477A/201/120B IPC registered at PS Economic Offences Wing, Delhi.

(2.) Briefly stated the facts of the present case are that on the complaint of Dr. J.S. Reddy, Additional Director, Export Inspection Council ["EIC"], New Delhi, FIR no. 19/2023 was lodged wherein it was alleged that EIC Delhi noticed that a sum of Rs.55,00,000.00 (Rupees Fifty Five Lakhs) was diverted to a private entity namely M/s. BDS 3 Infracon Pvt. Ltd. by Mr. Rajvinder Singh- who was then serving as Deputy Director (Non-Technical) at EIC. Upon scrutiny of the accounts of the previous years, various such transactions were found where the funds of EIC were embezzled and payments were made to various private entities- showing significant financial irregularities and misappropriation of public funds having occurred during the tenure of Sh. Rajvinder Singh.

(3.) Ld, Senior Counsel appearing for the petitioner claimed that the petitioner being one of the directors of the company - (M/s Vardhman Estates & Developers Pvt. Ltd.) only looked after the construction aspects of the company, whereas, the financial, marketing and sale was being managed by Mr. Harinder Bashista. It is submitted that Rajvinder Singh dealt with Harvinder Bashishta, and the transactions in question were for booking of a commercial space in a project being developed by M/sVardhman Estates & Developers Pvt. Ltd. The petitioner was merely managing the construction operations of the company and was not the beneficiary of the funds. Rather, the money was transferred into the personal accounts of co-director Harinder Bashishta- as is admitted by him.