Delhi Court Grants: In a case of alleged cheating and breach of trust, the Tis Hazari Court in Delhi has granted four days of police custody to an ICICI bank manager accused of defrauding an NRI woman of Rs 13.5 crores.
Varun Vashishta, the accused, was remanded into custody by Chief Metropolitan Magistrate (CMM) Sonam Gupta, with a scheduled appearance before the court on March 5, 2024.
Delhi Court Grants Custody
CMM Gupta emphasized the necessity of custodial interrogation to unravel the entire conspiracy and gather evidence from the bank, including confronting the accused with bank officials and staff.
The Delhi Police’s Economic Offenses Wing (EOW) has registered a case against Varun and others involved. The police had sought a ten-day remand to thoroughly investigate the case and uncover the full extent of the alleged conspiracy.
The FIR was filed based on a complaint from Shveta Sharma, who claimed Varun had persuaded her to invest in fraudulent fixed deposits promising high returns. However, the investments turned out to be fake, resulting in a loss of Rs. 13.5 crores.
The Investigation Officer (IO) argued for the extended remand to delve into Varun’s involvement further and probe other potential suspects, as well as examine fabricated documents submitted to the bank.
In response, the accused’s counsel maintained Varun’s innocence, stating he had been cooperative and falsely implicated in the matter.
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