Accused in PNB loan fraud case brought from Oman, CBI gets 3-day custody

“As per prosecution, a conspiracy was entered into by several accused persons, including the present accused for siphoning off public money. To unearth the various facets of the conspiracy. I am of the considered view that custodial interrogation of the present accused is necessary,” the court said.

In its remand application, the CBI also named Kalra’s wife, who along with Kalra are directors at White Tiger Steel Pvt Ltd, and three public servants on allegations of entering into a criminal conspiracy with Kalra, who on the basis of forged documents obtained a loan of Rs 1,000 lakh from PNB, Daryaganj.

CBI prosecutor Raman Kumar submitted to the court that the agency required Kalra’s custody to investigate some private persons regarding wrong evaluation of the property belonging to a third person, given as collateral security was still underway.

Kalra’s lawyer, Pradeep Rana, opposed the CBI remand and submitted that “no recovery is to be effected from the accused. All relevant documents have already been seized by the CBI and are already on record.”