New Delhi, A Delhi courtroom has dismissed the bail plea of an alleged kingpin in an over ₹8.94 crore financial institution fraud case, saying the offence was grave and dedicated in a scientific method by layered transactions.
Further Periods Choose Shunali Gupta rejected the bail software of accused Nitin Birmal Dongre in an FIR registered by the Financial Offences Wing underneath Sections 318 , 319, 316 , 336, 338 , 340, and 61 of the Bharatiya Nyaya Sanhita .
“Contemplating the seriousness and gravity of the offence, the systematic method by which enormous quantity of ₹8.94 crores has been withdrawn from the checking account of the complainant by hatching a felony conspiracy whereby the applicant was a kingpin and two different individuals said to be concerned in the identical are but to be arrested, at this stage, I don’t discover any floor for grant of bail to the applicant,” the courtroom stated in its order dated February 28.
On January 10, 2008, a present account within the identify of Larsen & Toubro and Shanghai City Building Operation was opened at Axis Financial institution’s Lajpat Nagar department in Delhi.
On June 7, 2024, solid paperwork have been allegedly used to alter the telephone quantity linked to the account. Subsequently, in July 2024, an individual claiming to be an worker of Larsen & Toubro activated company web banking at Axis Financial institution’s Usmanabad department in Maharashtra.
Between July 11, 2024, and August 30, 2024, ₹8.94 crore was allegedly debited in 94 transactions and transferred to 24 accounts.
The prosecution alleged that Dongre, in conspiracy with others, siphoned off the funds and that the cell quantity used for web banking was discovered working from his handset.
The investigation additionally revealed that the data concerning the complainant’s account was offered by the accused Ashish Khandelwal, who was an assistant supervisor at Axis Financial institution.
The investigating officer additionally claimed that enormous sums have been credited to Dongre’s checking account, and that he routed the siphoned cash by accounts of fruit sellers, receiving items and money in return.
Opposing the bail plea, the prosecution submitted that two co-accused individuals are but to be arrested and there was a terror that Dongre would possibly tamper with proof if launched.
Dongre’s counsel argued that he had been in judicial custody since April 2, 2025, and that the chargesheet had already been filed. He sought parity with co-accused who had been granted bail and relied on a 2012 Supreme Court docket judgment to contend that continued incarceration throughout trial was unwarranted.
Rejecting the argument of parity, the courtroom stated, “I’ll be aware that the function of the applicant can’t be equated to the function of different individuals concerned within the conspiracy”.
“Prima facie the IO has said that the applicant is the prime accused as he’s the beneficiary of the siphoned off quantity, the offence is grave and critical in nature and mere submitting of the chargesheet doesn’t by itself dilute the seriousness of offence or entitle the applicant to grant of bail particularly the place the function attributed to the accused is substantial or prime,” stated the courtroom.
Thereby, the courtroom dismissed Dongre’s bail software.
This text was generated from an automatic news company feed with out modifications to textual content.
