HC extends bail of Yudh Chand Bains in ₹20 Cr loan fraud case, hearing on March 6

Himachalscape bureau Published: February 7, 2025 | Updated: February 7, 2025 2 minutes read

Shimla, Feb 7,

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The Himachal Pradesh High Court on Friday extended the interim bail of hotelier and Congress Seva Dal state spokesperson Yudh Chand Bains in the ₹20 crore loan default case registered against him by the State Vigilance and Anti-Corruption Bureau (SV&ACB) on January 9.

A bench led by Chief Justice Gurmeet Singh Sandhawalia deferred the hearing on Bains’ bail application to March 6, directing that the interim bail granted earlier would continue until the next hearing.

The development comes as the state continues to oppose the confirmation of bail, pressing for his custody to facilitate further investigation.

During the hearing, the Deputy Advocate General submitted that the state intends to file a more comprehensive status report on the case. Meanwhile, Bains’ counsel, senior advocates N.S. Chandel and Ankush Sood, along with advocate Vikrant Chandel, informed the court that their client had cooperated fully with the investigation and had been subjected to regular interrogation.

Despite these submissions, Chief Justice Sandhawalia advised that the appropriate course of action for securing anticipatory bail should be pursued in the subordinate courts before approaching the High Court. This remark suggests that the legal battle over Bains’ bail is far from over, and further proceedings at lower courts could determine the future course of the case.

The vigilance agency, represented by Advocate General Anup Rattan and Deputy Advocate General Sidharth Jalta, was accompanied by senior police officials from the SV&ACB, including S.P. Virender Kalia and Dy. S.P. Firoz Khan. They reiterated their stance that Bains’ bail should not be confirmed and that his custodial interrogation was necessary for a fair probe.

Also read:Interim bail granted to businessman Bains in Rs. 20 Crore loan default case

Bains has been accused of financial irregularities in securing a ₹20 crore loan from KCC Bank, which has now turned into a Non-Performing Asset (NPA). The state alleges that fraudulent documentation and non-repayment of the loan amount are at the core of the case.

Also read:Businessman Bains denies Loan scam allegations, claims political targeting

The matter has gained political traction as Bains has publicly accused Chief Minister Sukhvinder Singh Sukhu and his associates of corruption, claiming he has lodged complaints with central agencies like the CBI and ED. His security cover, provided by the central government, has also raised questions about the political dimensions of the case.

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The HimachalScape Bureau comprises seasoned journalists from Himachal Pradesh with over 25 years of experience in leading media conglomerates such as The Times of India and United News of India. Known for their in-depth regional insights, the team brings credible, research-driven, and balanced reportage on Himachal’s socio-political and developmental landscape.

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