Gurgaon: Rejecting the bail plea of accused persons in the Citibank fraud case worth Rs 409 crore, Punjab and Haryana High Court directed the District Court to complete the trial within six months.

Following the court order on Tuesday, the investigating agency (State Crime Bureau, Gurgaon) is in a dilemma as it has so far recovered cash and assets worth Rs 50 crore only. Besides, it is yet to interrogate one of the accused Deeksha Puri. 

On December 28, 2010, the management of Citibank had lodged an FIR against its relationship manager Shivraj Puri at DLF phase II police station. The FIR stated that Shivraj had invested funds in share market on promises of high returns. The victims of fraud had complained to the police that their securities were encashed without their knowledge.

The charges were proved right in an investigation conducted by the Securities and Exchange Board of India.

Later, Shivraj confessed before police that four of his close relatives including Hero Group’s former CFO Sanjay Gupta, Shivraj’s mother Deeksha Puri, father Raghuraj Puri and his friend Rajendra Chand were also involved in the fraud.

Deeksha Puri had filed a bail petition which was rejected by Justice MMS Bedi who is hearing the Citibank fraud case.

(JPN/Bureau)