Canara Bank manager involved in multi-crore loan scam gets bail

Canara Bank manager involved in multi-crore loan scam gets bail

Asked to surrender passport and remain within Srinagar

Srinagar: A trial court in Srinagar on Saturday granted interim bail to a former manager of Canara Bank Mukhti Nath Doley who is allegedly involved in a multi-crore bank scam.
Special Judge Anti-corruption, Srinagar while granting interim bail to the accused till 17 January, 2018 directed him to surrender passport before the police.
The court granted bail to the accused after advocate Aamir Masoodi moved a bail application before the court seeking release of his client.
The court directed him to remain available with the investigation officer of the case for further investigation.
“Accused while on bail shall not in any way threaten or induce or intimidate or even to contact the prosecution witnesses. He shall not leave the territorial jurisdiction of this court without prior permission of this court,” the court said.
It added that accused shall not indulge in like or any kind of crime henceforth and he shall surrender his passport before the Investigating agency forthwith, if not surrendered till date.
The court further said that violation of any of these conditions would result into immediate withdrawal of the bail order.
Mukhti Nath Doley, former Canara Bank Manager who hails from Assam was arrested by the special team of J&K police from his native place Kumargoa Assam.
As per the case details, Police Station Maisuma received a complaint from manager of Canara Bank, Lal Chowk branch, regarding disbursement of loan worth Rs 10 Crore to 7 business units which failed to repay the loan amount.
On receipt of this information a case FIR number 40/2017 under section 420 RPC was registered and investigation was set into motion.
During investigation it surfaced that some cheaters hand in glove with the then manager of Canara Bank dishonestly and fraudulently doctored documents to sanction loans for the business units which in reality were non-existing.