HP High Court to hear bail plea of Yudh Chand Bains in ₹20 Cr loan fraud case today

Himachalscape bureau February 7, 2025 2 minutes read

Shimla, Feb 7,

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The Himachal Pradesh High Court is likely to hear an important bail plea today concerning hotelier, Congress Seva Dal State spokesperson and Kangra Central Cooperative Bank loan 20 cr loan fraud case accused Yudh Chand Bains.

The matter would be heard before the vacation bench of Chief Justice Gurmeet Singh Sandhawalia, marking a significant turn in the legal proceedings.

Earlier, a single bench of Justice Rakesh Kaithla had granted interim bail to Bains on January 9, with the condition that he would cooperate in the investigation. This bail was extended till February 7 during a hearing on January 31.

However, the State Vigilance and Anti-Corruption Bureau, which registered the FIR against Bains on January 8 under Sections 420 and 120(B) of the IPC, has strongly opposed the bail extension, alleging non-cooperation from the accused.

According to the Vigilance Bureau, Bains, despite being called for questioning, failed to be available when required. However, records indicate that he has appeared for interrogation for 11 to 12 days between January 11 and February 6 at the Vigilance offices in Una and Shimla.

The exact details of the questioning, including the duration and nature of inquiries, have not been disclosed by the authorities.

The allegations against Bains pertain to financial irregularities in securing a ₹20 crore loan from KCC Bank, which has now turned into a Non-Performing Asset (NPA).

The Vigilance Bureau has accused him of fraudulently obtaining the loan and failing to repay it. A recent status report submitted in court also points to the existence of forged documents in the case.

Bains, on his part, has denied the allegations and made counter-accusations against the state government. On January 11, while appearing before the Vigilance in Una, he created a stir by accusing Chief Minister Sukhvinder Singh Sukhu and his associates of serious corruption.

He claimed that he had already lodged complaints regarding these allegations with central agencies such as the CBI and ED. However, no official action has been reported from these agencies so far.

Adding to the intrigue, Bains has been provided security by the Central government, which raises further questions about the political dimensions of the case.

With the Vigilance Bureau pushing for the cancellation of his bail and the defense arguing his cooperation in the investigation, today’s hearing in the High Court is expected to be a critical turning point in 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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