Delhi court orders probe into Rs 800 cr alleged bank scam

A Delhi court on Tuesday ordered a court-monitored investigation into the over Rs 800 crore scam of public sector banks, including the State Bank of India (SBI), allegedly involving an infrastructure company director.

The FIR in this regard was registered by the Delhi Police’s Economic Offences Wing (EOW).

Chief Metropolitan Magistrate Shivani Chauhan, of Saket District Court, was hearing an application filed by complainant Vaibhav Jalan against Gaurav Jalan, Director of JKM Infra Projects Ltd.

The petitioner’s counsel argued that the accused allegedly created fictitious invoices and transferred the money from the company accounts to shell companies’ accounts, but no effective investigation has been carried out by the Investigating Officer and the complainant was not called for purpose of the probe in the last ten months.

Taking note of the submissions, the court directed the EOW to file a status report seeking the investigation carried out by it in the last 10 months and what investigation has been conducted on the discrepancies highlighted by a forensic audit of the company.

It also noted the apprehension that the accused may flee the country to evade the process of law.

Vaibhav Jalan was represented by advocate Sandeep Kapur, Senior Partner, Karanjawala & Co with advocates G.G. Kashyap and Gurmukh Choudhri.

The matter will be further heard on November 11.

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