Naveen Chandra Arya vs State of Uttarakhand

Dharam Veer, J.—Heard Mr. Anurag Bisaria, Advocate for the applicant and Mr. Arvind Vashitha, Standing Counsel for the respondent.

Learned Counsel for the applicant has submitted that the applicant has been falsely implicated in the case and the I.O. has not collected any credible evidence against him, during investigation. Contrary to this, learned standing counsel for the respondent has stated that during investigation, it has come in the evidence that the applicant-accused N.C. Arya, the then Senior Manager, Bank of Baroda, Haldwani abused his official position as public servant, entered into criminal conspiracy with the private persons and cheated the Bank of Baroda for an amount of Rs. 1,12,70,000/- approx. by sanctioning and disbursing loans on the basis of fake and forged documents as mentioned in the chargesheets filed before the Court of Special Judge, CBI, Anti-Corruption, Dehradun on 25.6.2010 and all these persons including valuer of the properties Sri Sanjeev Kumar Verma have also been chargesheeted. It is submitted that all the loans were sanctioned by the applicant-accused without adhering to the bank guidelines. The documents relating to assets or business being carried out by the borrowers or the guarantors of loans namely copies of ownership of asset, business, balance-sheet, profit and loss statement, bank statement etc. were not taken on record before the disbursement of loan by the applicant-accused, thereby violating the mandatory guideline of the Bank for consideration and sanction of home loan. The applicant-accused did not properly conduct the mandatory pre and post physical inspection of the properties. It is also submitted that the persons who are instrumental in submission of fake sale deed showing them as genuine sale deeds have also been charge-sheeted along with the applicant-accused. It is further submitted that the person who were instrumental in opening of account in the fictitious names through which the defrauded amount was withdrawn have also been charge-sheeted along with the applicant-accused.

A perusal of the First Information Report and the facts and circumstances of the case, prima facie indicates that the applicant-accused N.C. Arya, in the capacity of public servant, posted as Senior Manager, Bank of Baroda, Haldwani, abused his official position as public servant, entered into criminal conspiracy with the private persons and cheated the Bank of Baroda for an amount of Rs. 1,12,70,000/- approx. by sanctioning and disbursing loans on the basis of fake and forged documents.

Keeping in view all the aforementioned facts and circumstances and the gravity and seriousness of the offence, I am of the view that the applicant does not deserve bail.

The bail application is rejected accordingly.