VIKAS KHETWAT Vs. UNION OF INDIA

JUDGEMENT

(1.) The anticipatory bail application filed on behalf of petitioner, who is apprehending his arrest in connection with R.C. Case No. 08(S)/2018-EOW-R for the offence registered under Ss. 120B read with Ss. 420, 406, 467, 468, 471 of the Indian Penal Code pending in the Court of learned S.D.J.M., Ranchi, is pressed into motion.

(2.) As per the prosecution case, accused persons including this petitioner entered into a criminal conspiracy during 2014 to 2018 and in pursuance thereof, obtained a loan of Rs.8.90 Crore from Bank of India, Lalpur Branch, Ranchi in the name of M/s Global Traders for doing wholesale trade/business of clothes and textiles. The said loan was not used for trading clothes and money was diverted through various Shell Companies to the account of M/s Sarawagi Builders Pvt. Ltd. and M/s Shriram Comtrade Private Limited. The loan account became NPA with an outstanding amount of Rs.8.03 Crore to the Bank.

(3.) The petitioner was proprietor of Global Traders who had contracted a loan from Bank of India and defaulted in the payment causing loss to the tune of Rs.8.03 Crore.