Jeweller gets bail with some riders

Apr 17, 2012 |

Hyderabad

Tags:

crime

The CBI court granted conditional bail to Sanjay Kumar Agarwal of Ghanshyam Das Gems and Jewellers, Abids. He is accused of duping a public sector bank of about Rs 65 crore. The CBI alleged that he had cheated SBI’s Koti branch by obtaining a loan for 250 kg gold under the Gold Metal Loan Scheme by furnishing fake sureties of Punjab National Bank.'

Sanjay was granted bail on Monday after executing a personal bond for Rs 25,000 with two sureties for a like sum. While granting bail, CBI judge B. Naga Maruthi Sharma directed that the accused appear before the CBI between 9 and 12 noon every day. He was asked to surrender his passport and also told not to leave Hyderabad without permission of the court.

The accused obtained 30 kg of gold worth Rs 6.26 crore on March 4, 2011, 101 kg gold worth about Rs 26.92 crore on March 19 and 119 kg gold worth about Rs 54.17 crore on April 21. The gold was delivered to Syed Abdul Kareem, a representative of Ghanshyamdas Gems and Jewels. The CBI recovered about Rs 9.15 crore worth fixed deposits from his relatives and partners of Ghanshyamdas Gems and Jewels.

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