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Posted at: Jun 13, 2018, 2:24 AM; last updated: Jun 13, 2018, 2:24 AM (IST)CHEQUE-BOUNCE CASE

Aryans Trust chief sentenced to jail

Kataria to shell out Rs 22 lakh as fine

Ishrat S Banwait

Tribune News Service

Chandigarh, June 12

A local court has sentenced the chairman of Aryans Education and Charitable Trust, Anshu Kataria, to one-year imprisonment in a cheque-bounce case. The complaint was filed against him by Dena Bank from which multiple loans had been availed. Kataria had given a post-dated cheque to the bank worth Rs 55 lakh, which was dishonoured.

Kataria has also been fined Rs 22 lakh by the court. According to the complaint, various term loans were availed by the trust from the Sector 38 branch of the bank. The current outstanding amount at the time of filing the complaint was over Rs 22 crore. Kataria issued four post-dated cheques as interest and instalments. 

The cheque in question was dated August 25, 2015, amounting Rs 55.07 lakh drawn on the State Bank of India, Rajpura Township, Patiala. According to the complaint, the cheque was payable with a written direction by the convict on the back of the cheque to make an RTGS in favour of the Aryans Educational and Charitable Trust to Dena Bank.

On October 5, 2015, a bank employee presented the cheque, but it was returned saying, “Balance in account is less than the cheque amount”. After the bank communicated the same to Kataria, he sought two months to arrange the funds. 

The cheque was again presented on November 23, 2015, but was returned saying “insufficient funds”. On December 23, 2015, the bank sent a legal notice to the accused, but he still failed to make the payment. The bank thus approached the court.

The accused made various pleas saying that the bank had his properties as sureties and thus the cheques were not to be considered under the SARFAESI Act. Another contention was that he was not supposed to give any post-dated cheques as it was not a condition for availing the loan. He thus accused the bank of misusing the cheques. However, these were rejected by the court. Kataria pleaded that he was 42 years old and a patient of diabetes. He also said that he had the responsibility of 187 employees and 3,000 students and hence pleaded for minimum sentence.

Desh Bhagat varsity Chancellor had got jail 

On January 22 this year, the Chancellor of Desh Bhagat University, Zora Singh, was also sentenced to two-year jail in a similar case. His cheque for Rs 21 lakh had bounced and he was fined Rs 42 lakh. The complainant in the case was a person who had funded Desh Bhagat University. However, Zora Singh’s cheques of repayment had been dishonoured. 


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