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Tuesday, 14 July 2020

High Court comes to rescue of banking fraud victim

Saurabh Malik

Tribune News Service

Chandigarh, July 13

Not all gold glitters for Nanak Chand. No less than Rs 41.2 lakh was transferred from his account, while others purchased gold items from the amount.

Coming to the rescue of the fraudulent money transfer victim, the Punjab and Haryana High Court has made it clear to Reliance Jewels that the amount has to be returned.

Justice Arvind Singh Sangwan has directed the Faridabad Commissioner of Police to issue notice to the owner or competent person of Reliance Retail Limited (Reliance Jewels), "informing as to why the amount has not been returned so far".

Justice Sangwan stated that the notice was required to question if the amount was not returned within 15 days, why should they not be arrayed as accused.

Justice Sangwan noted that the direction was being issued as the petitioners allegedly committed the offence in conspiracy with other accused, a fact which was to be decided during trial.

The matter was brought to the court's notice after Ghanshyam Pandit and another petitioner sought anticipatory bail in an FIR registered in February at Ballabgarh. The court was told that some accused purchased gold items following transfer of amount from the victim's account.

The direction came after Justice Sangwan, during the course of hearing, asked the parties concerned whether the owner or person authorised to manage the account of Reliance Retail Limited was arrayed as accused and whether the amount belonging to Nanak Chand was still with Reliance Jewels.

Counsel for the accused told the court that the recovered gold coins were in possession of the police and as such, Nanak Chand was left with no grievance.

Justice Sangwan asserted that the court disagreed with the argument that the victim's interest had been safeguarded. Justice Sangwan pointed out that the victim's hard-earned money had been siphoned off and was to be returned to him or the bank in Ballabgarh from where it had been transferred.

Referring to the state counsel's stand that the invoice issued by Reliance Jewels was not found to be signed by the accused, but by some other person, Justice Sangwan asserted that it showed negligence on the part of Reliance Jewels.

The case would now come up in the last week of August. "Till the next date of hearing, the arrest of the petitioners shall remain stayed," Justice Sangwan added.

from The Tribune

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