Multi-crore scam in Cooperative Bank
Excelsior Correspondent
SRINAGAR, Sept 10: Special Judge Anti-Corruption Srinagar R N Wattal has denied bail in anticipation of arrest to Syed Ashiq Hussain, Deputy Registrar in the office of Registrar Cooperative in multi-crore scam in the Jammu and Kashmir Cooperative Bank Limited.
In his application, the petitioner/accused claimed that he is a law abiding citizen and his arrest will damage his reputation being father of two daughters. It was further submitted that the petitioner is suffering from chronic diabetes.
However, the Anti-Corruption Bureau submitted that part charge-sheet in the FIR stands already filed for judicial determination and further investigation in the case in terms of Section 173(8) of CrPC is going on. It was further submitted that there is a prima-facie case against the petitioner and sympathetic grounds projected in the application cannot be considered as a potent ground for exercising the concession of bail in the favour of the petitioner at this stage.
After hearing both the sides, the court observed, “the petitioner having the knowledge about non-registration/non-existence of so called cooperative society put a draft letter addressed to J&K STC Bank before the Registrar for approval”, adding “making the application to the Secretary to Government Cooperative Department was to camouflage the illegal acts of accused and give it a stamp of Government approval as otherwise there was no such precedence of routing the loan application through office of Registrar for sanction of loan in favour of cooperative society, neither it was prescribed as a mandatory requirement in Cooperatives Societies Act”.
“The allegations against the petitioner are severe in nature and incriminating also and demonstrate the conspiracy hatched between chairman of non-existent cooperative society, Registrar Cooperative Society, petitioner and management of Cooperative Bank”, the court said, adding “petitioner’s approach has been unbecoming of a public servant with evil eye on public money”.
The court further said, “the petitioner holding the important post of Deputy Registrar in Cooperative Department was well conversant with the societies that were registered and with the rules and reZgulations about providing financial assistance but with his deceitful, despicable and corrupt intent in conspiracy with other accused he facilitated the case of a non-existent cooperative society to defeat the very objective of operation of Cooperative Bank”.
With these observations, the court said that petitioner has failed to carve out a prima-facie case for concession of bail in anticipation of his arrest. Accordingly, the application was dismissed.
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