Patiala House Court
Patiala House Court

No bail for ex-Andhra Bank official in loan fraud case

ANI | Updated: May 02, 2018 20:08 IST

New Delhi [India], May 2 (ANI): A Delhi court on Wednesday rejected bail plea of former Andhra Bank director Anup Prakash Garg, who was arrested in an alleged Rs 5,000-crore bank fraud case involving a Gujarat-based pharma firm, Sandesara Group of Companies.

The Patiala House Court further said that Garg should not be granted bail since the investigation was still on.

According to media reports, Garg, in his bail application, had said that he was not the main accused in the case and had always cooperated with the investigation, even before his arrest.

The Patiala House Court on March 1 had dismissed the bail plea of Garg in regards to the same case.

Earlier in January, the Enforcement Directorate (ED) arrested Garg in connection with the money laundering case.

Investigation in this matter revealed that Garg routed money through a Kolkata-based shell company.

Earlier in December, the ED had filed prosecution complaints against Delhi-based businessman Gagan Dhawan and also attached assets worth Rs 1.17 crore in the same case.

The special Prevention of Money Laundering Act (PMLA) court had taken cognizance of the prosecution complaint filed before it by the ED in the matter. (ANI)

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