Bail granted to J&K Bank Cluster Head, Manager in alleged Rs 177 cr scam

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STATE TIMES NEWS

JAMMU: Special Judge CBI Rajesh Sekri granted bail to Arun Kumar Cluster Head J&K Bank Ltd Samba and Iqbal Singh, the then Branch Head University Branch who were challaned by CBI in Rs 177 crore scam, in which Hilal Rather was also an accused.
Special Judge CBI Rajesh Sekri after hearing Sr Adv Abhinav Sharma for the applicants observed that since the alleged mastermind of case, accused Hilal Rather has already been admitted to bail by High Court of J&K, the petitioners/accused Iqbal Singh and Arun Kapur are otherwise entitled to be released on bail on a parity of reasoning. The court allowed application with the directions that petitioners are admitted to bail subject to furnishing of two surety bonds of solvent nature in the amount of Rs 2 lakh each and a bond of personal recognizance of Rs 5 lakh subject however, to conditions that the petitioners shall cooperate with investigating agency, if need arises; the petitioner shall regularly appear during trial; the petitioners shall not leave territorial jurisdiction of this court without prior permission and the petitioners shall not directly or indirectly make any inducement, threat or promise to any person acquainted with facts of the case.

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