Bail plea of former Chief Manager rejected

SFC FRAUD CASE

Jammu: A local court here Monday rejected bail plea of former Chief Manager State Finance Corporation (SFC) facing charges along with the then Managing Director of the Corporation for allegedly misusing their official position.
 The accused Rajinder Parashad and former MD SFC, Aijaz Iqbal have been booked by the Vigilance Organisation under the provision of Prevention of Corruption Act, fraud, forgery and criminal conspiracy.
 After hearing the counsel for the applicant, Rajinder Prashad, the Special Judge Anticorruption Jammu, Pawan Dev Kotwal observed that the accused does not deserve the concession of bail at this stage.
 “The investigation of the case is at the initial stage and the accused is needed by the investigation agency for his custodial interrogation,” the court observed.
 As per the VOJ, the accused, along with other officials, caused huge loss to the state exchequer by allegedly hatching conspiracy to benefit the private persons in auction of mortgaged property with the SFC by not showing any minimum auction price as per the directions of the High Court.
 The officials have also been accused of tempering with the valuation certificate and other records for their own gains. JNF

Lastupdate on : Mon, 18 Jul 2011 21:30:00 Makkah time
Lastupdate on : Mon, 18 Jul 2011 18:30:00 GMT
Lastupdate on : Tue, 19 Jul 2011 00:00:00 IST



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