CBI court quashes order in Rs 1,530-crore bank scam case

Mohali: A special CBI court has quashed a trial court order directing the prosecution to provide copies of ‘unrelied' documents to the accused in the Rs 1,530-crore SEL Textiles bank fraud case, holding that such material need not be supplied before framing of charges.The court ruled that, at this stage, the accused are entitled only to a list of documents not relied upon by the prosecution, and not copies of the documents themselves.It also observed that premature disclosure of such material could adversely affect the ongoing investigation.The case pertains to an alleged Rs 1,530.99-crore fraud involving M/s SEL Textiles Ltd and a consortium of 10 banks. The CBI had registered the case on August 6, 2020, on the complaint of Vinod Kumar Malik, AGM, SAM Branch, Central Bank of India, Chandigarh.The agency had named the company and its directors — Ram Saran Saluja, Neraj Saluja and Dhiraj Saluja — along with unknown public servants and private persons, alleging cheating, criminal conspiracy, forgery, diversion and misappropriation of public money.According to the investigation, the company had availed multiple credit facilities from various banks, but the accounts later turned NPAs. A forensic audit allegedly found diversion of funds, fictitious transactions and overseas remittances, following which the account was declared fraud in 2018.The CBI filed its chargesheet in 2022. During the proceedings, the accused sought copies of documents seized during the investigation but not relied upon in the chargesheet. The trial court had allowed the plea, but the order has now been set aside.The special court has also directed the lower court to expedite framing of charges so that trial in the long-pending case can proceed.