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Court rejects bail of Ex- FM’s son 2/4/2020 9:50:24 PM Early Times Report Jammu, Feb 4: Special Judge Anticorruption Jammu Yash Pal Bourney today rejected the bail application of Hilal Rather son of Ex- Finance Minister Abdul Rahim Rather who was in custody Anticorruption Bureau Jammu in a Bank Fraud Case of Paradise Avenue Township Project. Special Judge Anticorruption Jammu YP Bourney after hearing Adv Pranav Kohli appearing for applicant whereas APP Himanshu Parkash for the ACB observed that the accusations against the applicant that he managed the sanction of four terms loans with ease in quick succession for the project M/S Paradise Avenue Ltd. Bhatindi, Jammu beyond the maximum exposure limit allowable to a partnership concern is if the administration of the bank was there only to assist him in securing the loan and then flouted the terms of the agreement with impunity by opening a second escrow account of his choice with HDFC Bank Branch Office, Bahu Plaza, Jammu and then went on to utilize the deposits received therein from the customers, who paid for the purchasing of the flats or booking amount. Further, without paying even a single instalment for the repayment of the loans barring some adjustments of the interest in part from the escrow account against the interest on loan that accrued during the moratorium period which otherwise was part of the loan sanctioned. Further, he was dolled to the concession of one-time settlement scheme without recovering anything at foregoing the whopping amount of about Rs. 47.60 crore but even thereafter the cheque of Rs. 40 crore issued by the applicant for part payment of the settled amount under OTS was returned unpaid for lack of funds in his account The investigation is at initial stage and applicant is required by the investigating agency for further interrogation /questioning since he stands hospitalized shortly after his arrest and continues under the treatment and care of the doctors till date who need to review and reassess his fitness at regular intervals so that very object of the investigation is not frustrated. So, releasing the applicant on bail at this stage would definitely jeopardise the interest of the just, fair and impartial investigation into the matter.   Share This News with Your Friends on Social Network     Comment on this Story

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