Court denies pre-arrest bail to Asstt Manager in Rs 1.26 cr fraud

Excelsior Correspondent
JAMMU, Feb 20: Principal Sessions Judge Reasi Sonia Gupta today rejected the pre-arrest bail application of one Ishvinder Singh Ranyal, the then Assistant Manager J&K Bank Branch Pouni, who was allegedly involved in fraudulent withdrawal of Rs 1.26 crore from the dormant bank accounts.
After hearing PP Rajeev Kumar for the UT, Principal Sessions Judge observed, “economic offences are considered grave as they affect the economy of the country and such offences having deep rooted conspiracy involving huge loss of public funds are to be viewed seriously”.
“Such offences are committed with cool calculation and deliberation, designed solely with an eye on personal profits regardless of the consequences to the society and otherwise also keeping in view the material available on record, the magnitude of the scam, the manner in which it has been executed and role played by the accused in execution of the scam, disentitles him from the discretionary relief of bail”, the court said.
With these observations, court dismissed the bail application.