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DPIL fraud: CBI court directs banks to defreeze lockers, accounts owned by accused, relatives

The three accused are being investigated by the CBI for their alleged involvement in a Rs 2,654 crore bank scam involving a consortium of 11 banks.

By: Express News Service | Surat | Published: October 1, 2019 1:27:12 am
Vadodara businessman Amit Bhatnagar accused in Rs 2,654 crore scam Amit Bhatnagar is MD of DPIL, which allegedly cheated a consortium of 11 banks of Rs 2,654 crore. (File)

A CBI court in Ahmedabad on September 23 directed banks to defreeze lockers and accounts of Amit Bhatnagar and Sumit Bhatnagar, brothers and promoters of the Vadodara-based Diamond Power Infrastructure Limited (DPIL), their father Suresh and their other family members.

The three are being investigated by the CBI for their alleged involvement in a Rs 2,654 crore bank scam involving a consortium of 11 banks.

Advocate Amit Nair, representing the accused as well as their relatives, submitted that the lockers and accounts, co-owned by their relatives, were already inspected and scrutinised by the Income Tax Department. Appropriate wealth tax was paid and gold found in the lockers were as per the permissible limit. It was also submitted that the lockers and accounts do not require to be kept frozen as considerable time has passed and the CBI has filed their chargesheet in this regard.

The three applications moved included one seeking accounts and lockers co-owned by Richa, wife of Sumit, and her parents as well as account owned by Madhurilata, wife of Suresh. The other two applications involved bank accounts co-owned by Sumit and Richa, and Amit and his wife, Mona Bhatnagar, respectively. Another application seeking the court’s direction to defreeze bank accounts and lockers owned solely by the accused is pending before the CBI court.

The brothers have been charged under IPC for cheating, conspiracy, forgery of valuable property and under sections of the Prevention of Corruption Act.

While Suresh is out on regular bail on medical grounds, the two brothers are out on temporary bail granted by the Gujarat HC.

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