Judge of ‘Treasury’ has come in the CBI FIR

New Delhi: Justice Yashwant Verma is in discussion these days. In fact, there was a fire at his/her Delhi house, which was allegedly recovered from there after extinguishing a large number of cash. But now another case related to Justice Verma is coming up. his/her name in this case was registered in the CBI FIR. The case is related to Simbhavali Sugar Mill. FIR was related to a sugar mill named Simbhavali Sugars Limited. It is alleged that this mill cheated banks. The shocking thing in this case is that Justice Yashwant Verma was a non-executive director in Simbhavali Sugars before becoming a judge of Allahabad High Court on 13 October 2014. The account of this Simbhavali sugar was declared in the year 2012 NPA i.e. Non-Performing Asset.

Loan was taken in the name of help of farmers

The CBI had registered an FIR under the Prevention of Corruption Act on 22 February 2018. Five days later, the Enforcement Directorate registered an ECIR on 27 February 2018 under the Money Laundering Act. This FIR was filed on the complaint of Oriental Bank of Commerce (OBC). OBC gave a loan of Rs 150 crore to Simbhavali sugar. The bank had complained to the CBI that the sugar mill took a loan in the name of helping the farmers, but worked dishonestly. The OBC was later merged with Punjab National Bank (PNB).

CBI’s FIR was applied to cancel

This FIR was mentioned in two decisions of the Allahabad High Court. These decisions were associated with the accused who had applied for cancellation of CBI FIR or anticipatory bail. In March last year, the Supreme Court overturned an Allahabad HC decision. Allahabad HC ordered a CBI inquiry of the loan given to the Simbhavali sugar of the group of SBI -led banks. The SC had said that HC made a mistake, as there was no need to investigate. However, the SC also said that the officials can take action for fraud according to the law.

SC had accepted no mistake in bank’s decision

During the hearing, the Supreme Court also refused to cancel the SBI’s bankruptcy proceedings against Simbhavali Sugars. The SC upheld the CBI’s decision to dismiss the proposal for the agreement made by Simbhavali. The SC had said that no mistake can be made in the bank’s decision. After the matter came to light, it is being said that Justice Yashwant Verma’s name was already in a controversy related to a sugar mill and now the matter of getting cash is coming from his/her house. The Judge’s name is also being described as serious in the CBI FIR.