Pay depositors in 3 instalments, HC tells Joharis

LUCKNOW: Justice NK Mehrotra of thehigh court here on Wednesday while granting interim bail for six months toJohari brothers — Arvind Mohan and Anand Krishna — ordered them torelease three instalments of 20 per cent each to the depositors by August 25,October 25 and December 25 as, according to their own statement in the companypetition, they have assets of more than Rs 50 crore. The paymentswill be made to those depositors whose names are contained in the list annexedto the proposed compromise in the company petition, the ordersaid.The Johari brothers were granted bail in the City CooperativeBank and Century Consultant Limited scam cases. The orders were passed onseperate applications moved by senior advocate Virendra Bhatia on behalf Joharibrothers with certain conditions.Both the accused shall be enlargedon bail for six months on furnishing two sureties and a personal bond of Rs 1lakh to the satisfaction of the CBI magistrate. The other conditionsare that they would not leave the jurisdiction without permission of the court;not seek any adjournment during trial on the ground of ailment or otherwise andthey will always be present either personally or through their counsel and willnot leave the country without permission of the CBI. It was further ordered thatboth the accused would surrender their passport and visa, if any, which shallremain in the custody of the CBI.In default of any conditions,complainant or the CBI shall have the option to move for concellation of thebail during six months,the order said.The accused have also cheatedthe City Cooperative Bank to the amount of Rs 1.71 crore and ‘besides,more than Rs 30 crore were pocketed by them excluding check purchase amountmentioned in the chargesheet’ furnished by the CBI. They also defraudedand misappropriated about Rs 11 crore of CCL investers ordepositors.Virendra Bhatia said that the accused possess their ownhome and properties in Lucknow and they undertake to remain present during thetrial and other proceedings.