The Delhi High Court has rejected the bail plea of Varun Arora, a computer operator accused of transferring shares worth over Rs 1.26 crore from 18 clients of a finance company into his own account through fraudulent DMAT transactions. Justice Girish Kathpalia, on a single-judge Bench, dismissed the plea related to an FIR filed at Rajouri Garden police station under the Bharatiya Nyaya Sanhita.
According to the prosecution, Varun Arora, while employed as a computer operator in a finance company, allegedly moved shares of 18 clients into his account by forging their signatures on Delivery Instruction Slips. The defense argued that the dispute was civil in nature and lacked allegations of inducement or dishonest intent.
The prosecution countered by stating that Arora had deceitfully transferred shares into his DMAT account, emphasizing that such actions did not fall under his professional duties. Allegations included forging client signatures on transaction slips and falsely representing victims as his relatives in official records. The court noted WhatsApp chats where Arora purportedly confessed to embezzling Rs 1.26 crore.
Justice Kathpalia ruled against the accused, highlighting that professional services do not permit personal gains and do not encompass forging client signatures. With trial charges pending, the court deemed the case involving 18 individuals and substantial fraud not suitable for bail at this stage.
