Ahmedabad: A city sessions court on Friday denied bail to one of the accused in the Rs 8.7 crore Bank of Baroda embezzlement case, stating that the allegations should be viewed seriously and the investigation is still pending.
Case Background
Last month, the city police arrested the bank’s joint custodian, Harsiddh Kadiyar, for allegedly embezzling the amount. Following his arrest, a co-accused, Sultan Ansari, was also taken into custody. Ansari sought bail, claiming innocence and alleging that he was being framed. He submitted that he acted under Kadiyar’s instructions.
Opposition to Bail
Public prosecutor Sudhir Brahmbhatt, along with the bank, vehemently opposed the bail plea, highlighting the gravity of the offence and the ongoing probe. They argued that the accused had misappropriated public money and that further investigation was required.
Court’s Observations
After the hearing, additional sessions judge J I Patel remarked, “Prima facie, it reveals that serious allegations are made against the present applicant that he, in conspiracy with the co-accused, executed forged balance certificate in the e-Kuber currency chest portal and submitted false information in the bill book by submitting such chest slip. Accordingly, the applicant and co-accused, in conspiracy with each other, misappropriated a total amount of Rs 8.70 crore from Bank of Baroda, which is public money.”
While denying the bail plea, the court emphasized, “Allegations made against the present applicant require to be viewed seriously at this preliminary stage, i.e., while deciding the bail application, as the same involves public money. It further reveals from the affidavit of the investigating officer that Rs 60 lakh have been recovered from the present applicant and still Rs 40 lakh remains to be recovered.”
Current Status
The investigation continues, with authorities working to recover the remaining amount and identify any other individuals involved in the conspiracy. The court’s decision underscores the seriousness with which financial crimes involving public funds are being treated.
