Mohali-based jeweller declared PO

Tribune News Service

Chandigarh, September 21

A Mohali-based jeweller has been declared proclaimed offender (PO) in a cheque-bounce case worth Rs 13.53 crore. The court of Judicial Magistrate (Ist Class) Manu Mittu declared Vikas Walia PO after he failed to appear in the court within stipulated period. Complainant Ashok Mittal had filed an appeal in the court of Additional District and Sessions Judge for issuing directions to the accused to appear in the court.

In June, the court of Additional District and Sessions Judge had directed the trial court to initiate the process of re-arrest of Walia after he failed to comply with the condition of suspension of his sentence.

Walia had been sentenced to a rigorous imprisonment of two years under the Negotiable Instruments (NI) Act in February this year. The court also ordered the convict to pay a compensation of Rs 2 crore at the rate of 6 per cent interest from the date of issuing cheques to complainant Ashok Mittal, a resident of Panchkula.

As Walia was sentenced to less than three-year imprisonment, he was granted bail on the condition that he would pay 20 per cent of the Rs 2 crore compensation amount to the complainant within 60 days of the appeal filed in the court of the ADJ court, but the accused did not comply with the order. Later, the ADJ court granted him 15 more days to pay 20 per cent of the compensation amount, but he did not comply with the order again, following which the ADJ Court dismissed his bail bonds and gave directions to initiate the process of re-arrest of the accused.

Walia had been awarded imprisonment in six cheque-bounce cases amounting to Rs 13.53 crore. Mittal alleged that Walia told him that there was a huge profit in diamonds and jewellery trade. Mittal paid Rs 12.25 crore to Walia for partnership in the business. Walia also paid him a profit of Rs 3.25 crore within a few months. Later, Walia asked him to open a diamond and jewellery shop at Elante Mall in Chandigarh wherein Mittal invested Rs 22 crore and a partnership deed was also executed between him and Walia.