HC rejects bail application of Dutta Financer Director

Excelsior Correspondent

JAMMU, May 24: High Court has rejected the bail application of one of the Directors of Dutta Financer Gurdeep Singh.
The petitioner against whom warrant under Section 512 CrPC has been issued in FIR No.302/2012 dated 19.11.2012 registered with Police Station Gandhi Nagar for commission of offences under Section 420/467/468/120-B RPC by 1st Additional Sessions Judge, Jammu, approached the High Court with the application seeking cancellation of warrant and admitting him on bail.
After hearing Advocate GS Thakur for the petitioner whereas Deputy AG Raman Sharma for the State, Justice Sanjay Kumar Gupta observed, “there is sufficient material available on record to infer that all the Directors joined hands and siphoned huge money of innocent persons on false promise of giving huge interest”, adding “in fact they used money for personal use and purchased huge properties”.
With these observations, High Court dismissed the petition.