Excelsior Correspondent
JAMMU, Sept 4: Special Mobile Magistrate Electricity Jammu, Balbir Lal Jaswal today rejected the bail application of one Gurcharan Singh Dutta, Director of the Dutta Finance Company and father of Managing Director of the company.
According to the challan, a written complaint was lodged by one Joginder Singh with Police Station Gandhi Nagar alleging that a number of people from various districts of the State deposited their hard earned money with “Dutta Financiers” at Nanak Nagar. In the month of April 2011 when some depositors approached the Finance Company for payment of interest and even the deposited money for their personal use, the Directors and other officials refused to pay the same.
The owners/Directors of the company namely Gurbachan Singh Dutta and his son Harpal Singh Dutta had been delaying the payment on flimsy grounds although they had a big fleet of petrol tankers and trucks running on Jammu-Leh road and even in Nepal through the younger son of Gurbachan Singh Dutta namely Amarjeet Singh. In this way, they cheated the depositors of around Rs 20 to 25 crore. On the receipt of complaint, the case was registered at Police Station Gandhi Nagar but later it was transferred to Crime Branch.
After hearing Senior Prosecuting Officer VK Sudan for the State, Special Mobile Magistrate Electricity observed, “the concession of bail will shatter the ray of justice for the poor depositors”. Accordingly, the court rejected the bail application.
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