Lucknow, May 22 (UNI) The Lucknow bench of Allahabad High Court on Thursday approved the bail of Samajwadi Party (SP) leader Vinay Shankar Tiwari, accused under the Prevention of Money Laundering Act (PMLA).

Vinay Shankar Tiwari and othersare accused of cheating banks to the tune of crores of rupees in this case.

The single bench of Justice Subhash Vidyarthi gave this order on the bail plea of Tiwari. Earlier on May 9, the CBI special court had rejected his bail plea, after which he had sought refuge in the High Court.

The case is about allegations of cheating crores of rupees with a consortium of banks. In this case, an order has been issued to issue summons on the CBI charge sheet against Gangotri Enterprises Limited and its directors Ajit Pandey, Vinay Shankar Tiwari and Rita Tiwari.

In this case, the consortium is accused of cheating Canara Bank, Corporation Bank, Oriental Bank of Commerce, IDBI Bank, Axis Bank and Central Bank of India to the tune of about Rs 754 crore. The CBI has already filed a charge sheet against the accused for conspiracy and fraud.

On October 8, 2020, the CBI registered an FIR in this case and started the investigation. After this, the ED also found a case of money laundering and filed a complaint against the accused. The complaint in the case was lodged by the then zonal manager of Bank of India, Yadavendra Narayan Dwivedi. Co-accused Ajit Pandey also got bail on Thursday.

UNI XC AB SSP