“Relying on the audit report, the financial status of the bank is determined, but the applicant deliberately ignored the huge loan amount of HDIL group of companies. She did not point out that fictitious accounts were opened and teh report was submitted with fictitious accounts to RBI. Applicant being key person could have disclosed illegal activities in the bank in advancing the loan,” the court said. It said her conduct showed her active involvement in the crime. “Huge public money is involved. Nature of offence requires to be considered. Considering role of applicant in commission of crime, applicant is not entitled for bail,” the court said.
Kirdat’s advocate said she was falsely implicated. It was argued that the probe was over and no direct evidence was found against her.