| Jammu, Jan 17: Special Excise Magistrate Amarjeet Singh Langeh has rejected the bail application of alleged fraudster Vikram Malhotra. On the complaint of one Vijay Singh, in police station Trikuta Nagar had lodged an FIR under sections 406, 420 and 120-B of RPC on the direction of Duty Magistrate, Jammu. The complaintant alleged that he obtained an insurance policy of Reliance Company and deposited a premium of Rs 50,000 per year from 2008 but when he approached the branch manager of Reliance Company for release of amount of Rs 1.50 lakh along with interest of the three years, he was astonished to know that his deposited money was released in favour of another person. During the course of investigation, it appeared that official of the insurance company was on anticipatory bail and another accused Vijay Singh happened to be the principal accused as he was alleged to have fraudulently withdrawn the amount in connivance with the company official and applicant. Rejecting the bail, the court said the accused is involved in a heinous offence and the investigation is also in initial stage. (JNF) |
