Delhi High Court Grants Bail to Former Bank Manager in Fraud Case
The Delhi High Court has granted bail to Varun Vashista, a former bank manager accused of defrauding a woman of Rs 13 crores. Vashista, who was arrested on February 2, 2024, allegedly withdrew money from the woman’s account at ICICI Bank, Vikas Puri, where he worked. Justice Amit Mahajan granted bail on November 12, requiring a bail bond of Rs 25,000 and two sureties. The court noted that the evidence is with the prosecution, and Vashista’s custody is not needed for further investigation.
Allegations and Investigation
Vashista is accused of creating fake fixed deposit accounts and misappropriating funds between 2019 and 2023. The complainant discovered in January 2024 that Rs 12 crores had been siphoned from her account. Allegedly, Rs 85 lakhs were withdrawn using her ATM card, and Rs 1.5 crores via cheques. Vashista’s lawyer argued that transactions were made on the complainant’s instructions. The prosecution opposed bail, citing the gravity of the offense and ongoing investigations.
Doubts Revealed
Delhi High Court -: The Delhi High Court is a big and important court in Delhi, India. It makes decisions on important legal cases and helps ensure justice is served.
Bail -: Bail is when a person who is in jail is allowed to go home while they wait for their trial. They usually have to promise to come back to court when asked.
Varun Vashista -: Varun Vashista is a person who used to work as a bank manager. He is accused of doing something wrong with a lot of money.
Rs 13 Crore -: Rs 13 Crore is a very large amount of money in Indian currency. It is equal to 130 million rupees.
Fraud -: Fraud is when someone tricks or cheats another person to get something, usually money, unfairly.
ICICI Bank -: ICICI Bank is a big bank in India where people keep their money safe. It offers various financial services to its customers.
Fixed Deposit Accounts -: Fixed Deposit Accounts are special bank accounts where people keep their money for a set period to earn interest. The money is usually not touched until the time is up.
Prosecution -: Prosecution is the team of lawyers who try to prove in court that someone did something wrong. They present evidence and arguments against the accused person.
