RAHUL ANAND Vs. STATE OF HARYANA

JUDGEMENT

(1.) This order shall dispose off the above mentioned two petitions filed on behalf of Rahul Anand and Arun Kumar Garg seeking grant of regular bail in a case registered against them vide FIR No. 256 dtd. 21/12/2021 under Ss. 406, 409, 420, 468, 471/120-B IPC at Police Station Shahzadpur, District Ambala.

(2.) The FIR in question was lodged at the instance of Ashok Verma, General Manager, Ambala Central Co-operative Bank Ltd., Ambala, wherein it is alleged that the petitioners in connivance with the Directors and other officials of Naraingarh Sugar Mill Ltd., Naraingarh (in short hereinafter referred to as NSML) had misappropriated huge amount of money. It is alleged that Haryana State Cooperative Bank (HARCO Bank)/District Cooperative Central Bank (DCCB) had advanced loan to NSML for clearance of dues to be paid to farmers on account of supply of sugarcane. The amounts advanced were as follows :-

(3.) It is alleged that the outstanding dues were '98.65 crores, apart from an interest of '25.16 crores. Upon an audit of accounts conducted pursuant to directions of Haryana Government, it was revealed that infact it was an amount of '121.21 crores, which had been siphoned off by the Controlling Management.