Court denies Sudhir Valia bail in 1000cr Yes Bank fraud
Mumbai's Economic Offences Wing has put out a Look Out Circular for Sudhir Valia, director of Suraksha Asset Reconstruction Ltd, over an alleged ₹1,000 crore loan fraud tied to Yes Bank.
This move comes after a court denied Valia's request for anticipatory bail, saying investigators need to question him directly to track where the money went and who benefited.
Sudhir Valia challenges travel ban
Valia is now challenging the travel ban in Bombay High Court, with a hearing set for July 1.
He insists he hasn't done anything wrong and says the case relies only on documents already given to investigators.
The EOW claims that between 2017 and 2019, loans were secured using fake documents and then diverted elsewhere, leaving Yes Bank with big losses while those involved allegedly made gains.