Ahmedabad sessions court denies bail to accused in Rs 8.7 crore Bank of Baroda embezzlement case

Ahmedabad: A city sessions court on Friday denied bail to one of the accused in the Rs 8.7 crore Bank of Baroda embezzlement case, saying that the allegations in the case should be viewed seriously and that the investigation in the case is still pending.

Last month, the city police arrested the bank’s joint custodian, Harsiddh Kadiyar, for allegedly embezzling the amount. After his arrest, a co-accused in the case, Sultan Ansari, was also arrested. Ansari sought bail, claiming innocence and alleging his framing in the case. He submitted that he used to act at Kodiyar’s behest.

Public prosecutor Sudhir Brahmbhatt and the bank vehemently opposed the bail plea, citing the gravity of the offence and the ongoing probe.

After the hearing, additional sessions judge J I Patel said, “Prima facie, as it reveals that serious allegations are made against the present applicant that he, in conspiracy with the co-accused, executed forged balance certificate in the e-Kuber currency chest portal and submitted false information in bill book by submitting such chest slip and accordingly, applicant and co-accused, in conspiracy with each other, misappropriate total amount of Rs 8.70 crore from Bank of Baroda, which is public money.”

While denying the bail plea, the court said, “Allegations made against the present applicant require to be viewed seriously at this preliminary stage i.e. while deciding bail application as the same involves public money. As it further reveals from the affidavit of the investigating officer that Rs 60 lakh have been recovered from the present applicant and still Rs 40 lakh remains to be recovered.”