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Bank Fraud
The Supreme Court on Tuesday granted bail to former Amtek Group chairperson Arvind Dham in a money laundering case related to Rs 27,000 crore bank fraud. A bench of Justices Sanjay Kumar and Alok Aradhe set aside a Delhi High Court order which had denied bail to him. Justice Aradhe, who was sitting in a bench led by Justice PS Narasimha, pronounced the verdict, saying the court has allowed the appeal of Dham in the case. The Delhi High Court had denied bail to Dham on August 19 last year, saying premature release could risk undermining efforts to secure accountability. "With the advancement of technology and Artificial Intelligence, economic offences such as money laundering have emerged as a serious threat to the financial system of the country. These offences pose a significant challenge for investigating agencies, given the complex and intricate nature of the transactions and the involvement of multiple actors," the high court had said. The high court added that a meticulous an
A fugitive wanted by Delhi Police in a Rs 4.55 crore bank fraud case was successfully deported from the UAE on Friday in an operation coordinated by the CBI with Interpol channels, officials said. Udit Khullar was brought to the Indira Gandhi International Airport on Friday, where he was taken into custody, they said. "The subject was earlier geo-located in the UAE through close follow-up by the CBI through Interpol with NCB-Abu Dhabi," a CBI spokesperson said in a statement. Khullar was wanted by the Special Cell of Delhi Police for alleged criminal conspiracy, cheating and forgery for securing three fraudulent home loans from nationalised and private banks in a "well-knit criminal conspiracy" with his associates, the agency said. He submitted forged documents of properties which he did not own to the banks to secure the loans, it said. "Khullar was arrested in the UAE and subsequently the CBI requested the UAE authorities to deport the subject to India," the spokesperson said.