In a recent development to a 56000 bank loan fraud case, Rouse Avenue Court has directed the AIIMS director to constitute a medical team. The objective of the team is to assess the defendant arrested in fraud case involving Bhushan Steel LTD.
The court’s decision came after Nitin Johri, filed for bail on medical grounds. Johri is the former chief financial officer of the company. He claimed he was suffering from a serious illness and wasn’t receiving adequate treatment in jail.
However, opposing the Plea, ED argued that the illness wasn’t severe enough to provide treatment outside the jail.
In response, the court ordered AIIMS to establish a medical board and look into Johri’s health as soon as possible. By July 2nd, the board is supposed to present its report, which will be taken into account during Johri’s bail hearing.
The court has ordered the jail authorities to ensure proper medical care to Johri. It further maintained that the option for treatment in a private hospital should be open if necessary. However, Johri will be responsible for covering the expenses incurred during his treatment in a private facility.
The case stems from allegations that former executives of Bhushan Steel, including its managing director Neeraj Singhal, orchestrated a complex scheme involving fake companies to siphon off funds, ultimately leading to a significant bank loan fraud.
This development underscores the ongoing legal proceedings surrounding the alleged financial misconduct at Bhushan Steel, which was acquired by Tata Steel Limited following the corporate insolvency resolution process in 2018.
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