Excelsior Correspondent
JAMMU, Jan 25: Crime Branch Jammu today arrested an accused who was wanted in a loan fraud case in State Financial Corporation.
Official sources said that one Shiv Dayal, son of Dhana Ram, resident of Balasar and at present Bishnah was nabbed from Jammu City in a case FIR No.19/2007 U/S 419, 420, 467, 468, 471, 120-B/RPC P/S Crime Branch Jammu for his involvement in hatching criminal conspiracy with the other co-accused persons (employees) of State Financial Corporation, in fraudulent drawl of loan for purchase of commercial vehicles worth lakhs of rupees in favour of non-existent persons, thereby, causing great loss to the public exchequer.
Giving details sources said that the case owes its origin to a written complaint lodged in Crime Branch Jammu by one Rattan Chand, son of Shanker Dass, resident of Ware House Jammu with the allegations that State Financial Corporation (SFC) had provided loan facility to the tune of lakhs of rupees to different people for purchase of commercial vehicles in J&K without getting the requisite formalities completed from the borrowers.
It was further alleged that the loan facilities have been provided to the non-existent persons by the employees of State Financial Corporation in connivance with some brokers for their own wrongful gains. During the course of investigation, documentary as well as oral evidences together with all relevant proof was collected and the charge-sheet was produced in the Court of Special Judge Railway Jammu on 28-12-2015.
The accused did not cooperate in the investigation of the case and remained at large by constantly changing his locations frequently. However, proceedings U/S 512 Cr.PC were initiated against him due to which Crime Branch team tracked the location of the accused and arrested him from Jammu city. The accused was produced before the Court of law for judicial determination. The Court sought the safe custody of the accused in the District Jail, Amphalla.
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