SATISH JHA Vs. STATE OF PUNJAB

JUDGEMENT

(1.) The petitioner seeks grant of regular bail in respect of a case registered vide FIR No.11, dtd. 31/8/2020 at Police Station Vigilance Bureau, Jalandhar, under Ss. 409, 420, 467, 468, 471, 120-B of Indian Penal Code and Sec. 13(1)(a)(2) of Prevention of Corruption Act, 1988 (as amended by Prevention of Corruption Act, 2018).

(2.) The allegations pertain to cheating of an amount of Rs.3,40,71,000.00, which is alleged to be in the shape of loss caused to Punjab Gramin Bank, Branch Jagatpur Jattan, Tehsil Phagwara as loans had been advanced by the then Manager Harbhajan Singh Kapoor in connivance with Satish Kumar Sharma, Valuer to 14 persons namely Avtar Singh, Ram Kumar, Varun Kumar, Subhash Kumar, Savita Rani, Satish Jha (petitioner), Pardeep Kumar, Pankaj, Pawan Kumar, Jaswinder Singh, Randhir Bhardwaj, Sharandeep Singh, Sanjay Kumar and Rajesh Kumar on the basis of forged and fabricated documents.

(3.) Learned counsel for the petitioner submits that a loan of Rs.25.00 lakhs had been raised by him by furnishing correct documents as regards his property and that the petitioner had purchased the said house in Bhai Ghanaiya Enclave at Phagwara vide sale deed dtd. 30/6/2015 (Annexure P-2). It has further been submitted that the petitioner had already returned a part of loan amount of Rs.3.00 lakhs by way of 18 installments and that the petitioner, in order to prove his bonafidies, has already deposited an amount of Rs.5.00 lakhs in the shape of FDR with State Bank of India, New Judicial Court Complex Branch, Kapurthala, Punjab. A copy of the said FDR has been furnished by learned counsel for the petitioner to this Court, which is taken on record.