The Delhi High Court has granted bail to a businessman who is accused of cheating a private bank to the tune of Rs 13 crore by securing loan and credit facilities on the basis of forged property documents.
Justice Manmohan Singh granted interim bail to Delhi-based Narendra Kumar Rajgarhia, who was arrested by Delhi police in November 16, 2012, after recording his counsel's statement that he (accused) will deposit Rs two crore to the bank by August 31, 2013.
"Till the next date, without expressing any opinion on the merit of the case, coupled with the fact that the charge-sheet against the petitioner has been filed in the month of February, 2013, the petitioner be released on bail on his furnishing a personal bond of Rs one lakh with one surety of the like amount subject to the satisfaction of the trial court.
The court recorded the submission of the petitioner's counsel that within four weeks he (Rajgarhia) will deposit Rs one crore with the complainant(bank) from the date of release and also deposit further a sum of Rs one crore by August 30, 2013 with the bank.
"An undertaking by way of his affidavit would be filed within three days from the date of his release," the court said in the bail order and directed the accused not to leave the country without the trial court's permission.
The court also directed Rajgarhia to join the investigation as and when called by police and will not approach other accomplices.
Further, the court said "liberty is granted to the respondent(prosecution) to get the order vacated if the petitioner (Rajgarhia) fails to comply with any of the conditions.
