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CBI for bail cancellation of two accused in Urea scam
New Delhi, July 28: Even as the CBI has moved the Delhi High Court seeking cancellation of bail granted by the trial court to two key Turkish accused in the Rs 133 crore urea scam, the duo have also approached the court seeking reduction in the amounts of sureties and personal bond needed to execute the bail.
New Delhi, July 28: Even as the CBI has moved the Delhi High Court seeking cancellation of bail granted by the trial court to two key Turkish accused in the Rs 133 crore urea scam, the duo have also approached the court seeking reduction in the amounts of sureties and personal bond needed to execute the bail.
The CBI has challenged special judge A K Garg's April 25 order granting bail to Karsan chairman and chief executive officer Tuncay Alankus and vice president Cihan Karanci and may 16 order reducing their bank guarantees from 15 million dollars to four million dollars and three million dollars to two million dollars respectively.
Citing that till date only 4.4 million dollars of the 38 million dollars siphoned off from the country had been recovered, it said the trial court should have sought bank guarantee of 34 million dollars. ''How could it ask for a guarantee of only 18 million dollars and then further reduce it to six million dollars?''
The Karsan executives have sought further relaxation in the bank guarantee amounts and the personal bonds, saying they were not in a position to deposit such hefty amounts as their accounts had been frozen. Petitions by both CBI and the two accused against the same bail Order of the special judge were pending before two different judges of the high court.
In May last year, the high court had ordered the special judge to take up the case on a day-to-day basis and conclude the prosecution evidence preferably within six months from the first date fixed by him for evidence. If the prosecution failed to conclude its evidence during the period on account of its own fault, the trial court could consider the release of the accused subject to their giving a bank guarantee of 38 million dollars.
The accused appealed to the Supreme Court which declined to interfere with the high court order. However, it deleted the 38 million dollars bank guarantee condition. Bureau Report
Citing that till date only 4.4 million dollars of the 38 million dollars siphoned off from the country had been recovered, it said the trial court should have sought bank guarantee of 34 million dollars. ''How could it ask for a guarantee of only 18 million dollars and then further reduce it to six million dollars?''
The Karsan executives have sought further relaxation in the bank guarantee amounts and the personal bonds, saying they were not in a position to deposit such hefty amounts as their accounts had been frozen. Petitions by both CBI and the two accused against the same bail Order of the special judge were pending before two different judges of the high court.
In May last year, the high court had ordered the special judge to take up the case on a day-to-day basis and conclude the prosecution evidence preferably within six months from the first date fixed by him for evidence. If the prosecution failed to conclude its evidence during the period on account of its own fault, the trial court could consider the release of the accused subject to their giving a bank guarantee of 38 million dollars.
The accused appealed to the Supreme Court which declined to interfere with the high court order. However, it deleted the 38 million dollars bank guarantee condition. Bureau Report