Bank Fraud: Court tells CBI to arrest Bhatnagars

Last week, the same court had rejected the anticipatory bail plea of the three accused while observing that “scamsters of big economic offenses have fled the country and justice.”

By: Express News Service | Ahmedabad | Published: April 16, 2018 4:32:35 am

The special CBI court has issued arrest warrants against Vadodara-based businessman Suresh N Bhatnagar and his two sons — Amit and Sumit — who have ducked several summons issued by the CBI in connection with the alleged fraud with a consortium of banks to the tune of Rs 2,654 crore. The warrants were issued on Saturday by special judge N G Dave who gave orders to the CBI to arrest and the produced the accused before it.

The decision comes five days after the same court rejected the anticipatory bail application of the father-son trio who are said to be hiding. Sources said that the CBI had issued several summons to the accused but they didn’t respond. Sources said that the CBI was forced to move the court on the ground of non-cooperation in the investigation. Last week, the same court had rejected the anticipatory bail plea of the three accused while observing that “scamsters of big economic offences have fled the country and justice.”

“It is taken into consideration that day in, day out generally scamsters of big economic offence are leaving the country.. and fleeing from justice. The present exposure of credit facilities from various member banks availed by the company reveals overall Rs 2,654.40 crore rupees exposure,” the special judge N G Dave had stated in his order. The CBI had lodged an FIR on March 26 alleging that Bhatnagars, who run Diamond Power Infrastructure Limited (DPIL), defrauded a consortium of banks, both public and private sectors, leaving behind an outstanding debit of Rs 2,654.40 crore as on June 29, 2016.

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