Bank loan fraud case: Yudh Singh Bains’ interim bail extended by a week, next hearing on February 7

Shimla, January 31: The Himachal Pradesh High Court heard the interim bail plea of ​​accused Yudh Singh Bains in the Rs 20 crore loan fraud case from Kangra Central Cooperative Bank on Friday. The court has extended his interim bail for a week. The next hearing in this case will now be held on February 7.

During the hearing in the HP High Court, the Advocate General of Himachal Pradesh appeared on behalf of the prosecution. While senior advocate Ankush Das Sood pleaded on behalf of Yudh Singh Bains. During the hearing, there was a heated debate between the two sides.

Advocate Ankush Das Sood argued that this case is only related to loan approval and no fraud has taken place in it. At the same time, the Advocate General clarified before the court that the loan was sanctioned by the bank by submitting wrong figures.

It is worth noting that Yudh Singh Bains is an accused in the Rs 20 crore loan scam being investigated by the Himachal Pradesh Vigilance Bureau. In this case, the collusion of bank officials and employees has also come to light.

The investigation has revealed that an application for a loan of Rs 60 crore was made in the name of hotel construction, out of which Rs 20 crore was released. The investigation also revealed that the officials and employees of Kangra Central Cooperative Bank, in collusion with the hotel owners, ignored the loan rules and guidelines of Reserve Bank of India (RBI) and NABARD.

In this alleged scam related to hotel construction, a case has been registered against the owners of M/s Himalaya Snow Village and M/s Hotel Lake Palace as well as bank officials and employees.

Vigilance has registered a case against Yudh Singh Bains and others accused in this fraud under sections 420 (cheating), 468 (forgery), 471 (using forged documents), 120-B (criminal conspiracy) of the Indian Penal Code (IPC) and section 13(1)(A)/13(2) of the Prevention of Corruption Act, 1988. The case has been registered at the Vigilance Police Station in Una and the investigation is ongoing.

Vigilance has called Yudh Singh Bains to its office in Shimla several times in this case and questioned him. However, to avoid arrest, Bains had already obtained interim bail from the High Court, which has now been extended for a week.

(Diary Times– Shimla’s independent hyperlocal community news website covering local news, stories, events, food, music, fashion, sports, nightlife, entertainment & more since 2019 is now on Google News. Click here to follow. Also, join Diary Times Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Kumud Sharma

https://diarytimes.com/

Continuing the achievement of the journey of effectiveness and credibility of more than 10 years in the career of journalism, as a woman journalist, I am Serving as the founder, promoter and editor of DiaryTimes with the trust and support of all. My credible coverage may not have given a big shape to the numbers, but my journey presents articles that make you aware of the exact and meaningful situations of Himachal’s politics, ground issues related to the public, business, tourism and the difficult geographical conditions of the state and financial awareness. DiaryTimes, full of the experience of my precise editorial expertise, is awakening the flame of credible journalism among all of you, so that the eternal flame of meaningful change can be lit in the life of the people of the state and the atrocities being committed against the people can be brought to the fore, I am motivated for that. If even a small change comes with the power of my journalism and the whole world becomes a witness to that issues, then I will consider myself fortunate.