DB appoints former Sessions Judge to examine properties and bank accounts of firm

Excelsior Correspondent
JAMMU, Feb 18: The Jammu and Kashmir High Court has appointed former District and Sessions Judge Harbans Lal to examine various properties listed in the bank accounts Dutta Finance Company Limited and other family companies in addition to properties which have already been identified, seized and appropriate action initiated against each of them and submit a report suggesting what further steps could be taken to safeguard the financial interests of the depositors because apparently these properties have been purchased from the funds withdrawn from the account of the companies.
In the Public Interest Litigation filed by Trilok Singh and Others against alleged cheating by Dutta Finance Companies to the tune of more than Rs 20 crore, a Division Bench of State High Court Jammu Wing comprising Chief Justice MM Kumar and Justice Dhiraj Singh Thakur after hearing Senior Advocate SS Lehar with Advocate Meharban Singh appearing for the PIL whereas Senior AAG Gagan Basotra appearing for the State respondents, observed that in pursuance of the various orders, a status report identifying various properties has been filed by the Senior Superintendent of Police, Crime Branch, Jammu. In the status report it has been stated that many properties belonging to the accused have again been identified. So in respect of property situated at village Akbarpur Barota-Kundli Sector 65 Sonepat, Haryana bearing Flat No. B-1/803, Shashi Bala purchased it from accused Amarjit Singh. The aforesaid property was purchased by Amarjit Singh from one Sanjay Kumar Jain for the sale consideration of Rs. 35.00 lacs out of which Rs 17,92,865.00 was transferred from the account of Dutta Finance. Likewise other property at Transport Nagar, Jammu and Godown belongs to accused Harpal Singh have been identified.
Division Bench further observed that the status report has not disclosed the dates of the transaction, unable to find out whether these transactions have been conducted after the passing of the order or earlier than the passing of the order. It has also not been revealed that whether Amarjit Singh Dutta and Gajjan Singh Dutta have been arrayed in the list of accused and whether any challan has been presented against them. The hard earned money of the citizen is pilfered by the Managing Directors/Directors of the group of companies leaving them high and dry. Therefore, Mr Harbans Lal shall make all efforts to point out various steps which may be taken to protect the interest of the depositors. The needful shall be done within a period of two weeks. The record of the properties as seized by the Crime Branch along with challan file may be placed before Mr Harbans Lal so that he may examine the details.

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