Justice Yashwant Varma, a judge of the Delhi High Court, was implicated in a 2018 CBI FIR related to a sugar mill fraud case. A recent discovery of cash at his residence further complicates the situation. Following an emergency order from the Allahabad High Court, investigations into bank collusion have commenced, stressing the need for enhanced transparency within the judiciary amid widespread public concerns.
Justice Yashwant Varma of the Delhi High Court is under scrutiny following the discovery of a significant amount of unaccounted cash at his residence on March 14, which was previously linked to a CBI FIR from 2018. This FIR implicated him in a bank fraud case associated with Simbhaoli Sugar Mills, where he served as a non-executive director at the time.
The CBI’s investigation stemmed from allegations made by the Oriental Bank of Commerce (OBC) that Simbhaoli Sugar Mills had defrauded the bank through a fraudulent loan scheme, manipulating funds distributed to farmers for agricultural purposes. The bank alleged that a total of Rs 148.59 crore was approved, but significant discrepancies arose, prompting OBC to classify the loan as fraudulent by March 2015, leading to substantial financial losses.
In December 2023, the Allahabad High Court called for a new CBI inquiry into multiple banks tied to this loan scandal, indicating that the fraud had severely affected the integrity of the judicial system. The inquiry revealed potential collusion between bank officials and Simbhaoli Sugar Mills, with the court ordering a detailed examination of the approval processes for the loans in question.
In February 2024, the CBI commenced a renewed investigation mandated by the Allahabad High Court, aimed at understanding why loans were still granted to a loan-defaulter between 2009 and 2017. This investigation became particularly pronounced after a fire incident at Justice Varma’s home, where cash was reportedly found within the chaos, although the exact amount recovered remains contested.
Following the incident, Justice Varma was transferred to the Allahabad High Court amid ongoing inquiries, raising further questions about accountability and transparency within the judiciary. Legal experts and advocates have expressed deep concerns regarding the implications of such incidents for public trust in the judicial system, suggesting the necessary introduction of measures to enhance transparency and integrity in judicial appointments.
The recent developments surrounding Justice Yashwant Varma raise serious questions about corruption within the judicial system and the integrity of its members. The ongoing investigations and the transfer of the judge signal an urgent need for transparency and a reevaluation of judicial processes to restore public confidence. The legal community has underscored the importance of handling such allegations with the utmost seriousness, proposing reforms to prevent future occurrences.
Original Source: www.ndtv.com
