ARUN KUMAR SHARMA Vs. STATE OF UTTARAKHAND

JUDGEMENT

(1.) Applicant Arun Kr. Sharma has sought his release on bail in connection with RC No.0072016A0008 under Sections 120-B, 420, 471 of IPC and Sections 13(2) r/w Section 13(1)(d) of the Prevention of Corruption Act and u/s 66 of the I.T. Act, 2000 at P.S. CBI SPE, Dehradun.

(2.) An information was received to the CBI to the effect that Arun Kr. Sharma (Branch Manager), PNB Vidhan Sabha, Branch Dehradun, during the year 2009-10 in connivance with V.K. Shrivastava (DGM/ Circle Head), V.K. Mahajan (AGM), V.K. Nagpal (AGM), A.K. Aneja (DGM), Smt. Archana Sethi (Chief Manager), H.S. Bhalla (Chief Manager), Samir Bhatnagar (Manager), all of PNB Circle Office Dehradun and Sri Sanjay Poddar, partner of M/s Vedant Steel Processing Center, Roorkee, defrauded the bank to the tune of Rs.12.00 crores by way of sanctioning a term loan of Rs.382.00 lakh for plant and machinery and working capital (CC) Limit of Rs.750.00 lakh in favour of M/s Vedant Steel Processing Centre, Roorkee for the purpose of processing of steel on 31.8.2009.

(3.) On the basis of said information, the FIR was lodged on 8.8.2016 by the CBI. After investigation, the charge-sheet was submitted.