Religare funds fraud: Delhi legal dismisses bail plea off previous Laxmi Vilas Financial vice president
Law enforcement registered he has been chargesheeted because the no such as for example mortgage has been disbursed rather than his degree.
A great Delhi legal has overlooked the fresh bail plea from previous Laxmi Vilas Bank Vp Pradeep Kumar within the a situation linked to so-called misappropriation away from loans within Religare Finvest Ltd.
Even more Master Urban Magistrate Vijeta Singh Rawat told you as per the costs layer there is certainly prima facie incriminating issue against Kumar.
Over the course of the fresh new alleged offence the amount of time inside the 2019, Kumar is the newest Vice-president and you will Relationships installment loans bad credit online Vermont Lead off North Regional Workplace (Delhi), of Laxmi Vilas Financial (LVB).
Kumar is chargesheeted in case of the Monetary Offences Side of Delhi cops having allegedly mistreating their position and conspiring to your after that management of RFL, RHC Holding Ltd, and you may Ranchem Ltd, so you’re able to misappropriate a sum of Rs 791 crore.
The fresh new courtroom told you in its purchase passed away September 30, “There is absolutely no ‘merely and you will proper’ factors or ‘almost every other unique reason’ coming throughout the submissions generated and you may matter into list to take on providing bail with the implicated/applicant (Kumar) in the current case. More