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AS Bindra gets bail in cheating case
Olympic gold medallist shooter Abhinav Bindra's father, who has been arrested for allegedly defrauding a bank and a finance company, got an interim bail.
Updated : Nov 19, 2013, 11:17 PM IST
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Olympic gold medallist shooter Abhinav Bindra's father, who has been arrested for allegedly defrauding a bank and a finance company, got an interim bail till June 5 from a Delhi Court on Friday.
Additional chief metropolitan magistrate (ACMM) Ajay Pandey has passed the order after hearing the case of AS Bindra, who moved the court on Thursday for bail, claiming that a compromise has been reached with the two parties.
"The accused applicant is released on bail on furnishing of personal bond of Rs5 lakh and two sureties of like amount. He will have to surrender his passport in the court within a week," the court said.
Taking note of the compromise entered between Bindra and the financial institutions, the court said that the terms of the agreement has to be strictly complied with. Earlier, senior advocate RN Mittal, advancing arguments on the bail plea, said,"Nothing remains as the accused has already entered into an agreement and already paid Rs one crore each to IndusInd Bank Limited and Apple Finance Ltd."
After working out the remaining amount, Bindra's son Abhinav has given post-dated cheques to the complainant financial institutions. The Economic Offence Wing of Delhi Police, however, opposed the bail application, saying the accused has not appeared before it so far and his presence is necessary for concluding the pending investigations.
Bindra, who was arrested by the Economic Offence Wing of Delhi Police on May 13 from his farm house at Zikarpur in Punjab following the issuance of a non-bailable warrant, could not be brought here as he is hospitalised at Chandigarh. The managing director of Chandigarh-based company Punjab Meats Ltd, Bindra, is accused of cheating IndusInd Bank Ltd and the Apple Finance Ltd to the tune of Rs9.31 crore.
IndusInd Bank Ltd had filed a complaint against Bindra and his company in 2007 for allegedly selling the land, mortgaged with it, as security against a loan of Rs 5 crore. The Apple Finance Company had lodged a FIR at Parliament Street police station in Delhi in 2006 accusing that Bindra, whose company had taken a loan of Rs three crore, issued five cheques of a non-operative bank account.
