In a significant development concerning the high-profile Rs 91 crore bank scam case, Principal Sessions Judge Jammu, has returned the challan to the Central Bureau of Investigation (CBI) while also raising serious questions on the investigation. The judge has directed the CBI to conduct further investigation, citing apparent lapses in the initial probe.
According to the news agency—Kashmir News Observer (KNO), the order was issued during the hearing of chargesheets against Jhelum Industry, Jhelum Infra Project India Pvt. Ltd., and New Jammu Flour Mills RC. These firms were implicated in alleged illegal transactions and fraudulent activities related to loan accounts.
Principal Sessions Judge Sanjay Parihar expressed dissatisfaction with the investigation, stating that it appeared to be inadequate and lacking in depth. He noted that the investigating officer failed to pursue crucial lines of inquiry to uncover the truth behind the alleged scam. The prosecution had accused the defendants of fraud and forgery, alleging that false documents were created to secure cash credit facilities from the complainant bank.
However, the court observed that the forensic report from a handwriting expert yielded negative results, indicating a lack of substantive evidence. Furthermore, the court criticized the CBI for failing to investigate the role of bank officials implicated in the scam. Judge Parihar emphasized the need for impartial and thorough investigation to rule out any possibility of evidence fabrication.
Against this backdrop, the court ordered further investigation into all three cases. The charge sheet was returned to the CBI Special Task Branch (Banking-Fraud Area), CBI Headquarters, New Delhi, with instructions to take appropriate action in accordance with the law. The background of the case involves allegations against Raj Kumar Gupta, purportedly the promoter of the accused companies.
Gupta and a representative of the complainant bank were alleged to have availed cash credit limits from Punjab & Sind Bank. Subsequent investigations revealed transactions totaling Rs 91 crore involving Jhelum Industries, Jhelum Infra Project India Pvt. Ltd., and New Jammu Flour Mills—(KNO)
