Archive · 16 Nov 2025
Court Orders Guarantor's Property Seizure Over Unproduced Bank Fraud Accused
Imagine someone promised to bring a friend to court, but they didn't show up.
Now, the court is telling the person who made the promise (the guarantor) that they need to pay a smaller amount of money.
Because they haven't paid, the court is now saying they might have to take the guarantor's belongings to get the money.
This happened because the guarantor couldn't make sure someone accused of a big bank fraud showed up for their court dates.
The original fraud case involves about 7.29 crore rupees and happened a few years ago with some bank officials.
The court wants the money, and since the guarantor won't pay, they're going after their property.
A court has ordered the Dera Bassi Collector to attach a guarantor's property.
The guarantor, Attar Singh, failed to produce an accused in a Rs 7.29 crore bank fraud case.
A penalty of Rs 70,000 was imposed on the guarantor for failing to produce the accused.
The original fraud case involves eight individuals, including four retired Indian Overseas Bank officials.
The court has set a reminder date of March 9, 2026, for the recovery and property attachment.
- Who
- Dera Bassi Collector and guarantor Attar Singh
- What
- Court ordered the attachment of a guarantor's property for failing to produce a bank fraud accused and for non-payment of a Rs 70,000 penalty.
- When
- A reminder notice was issued for March 9, 2026.
- Where
- Dera Bassi, Mohali
- Why
- The guarantor failed to produce the accused in a Rs 7.29 crore bank fraud case before the court and did not pay the imposed penalty.
- Fraud Amount
- Rs 7.29 crore
- Accused Bank Officials
- Four retired officials of Indian Overseas Bank
- FIR Registered
- October 7, 2015
- Guarantor Name
- Attar Singh
- Penalty Amount
- Rs 70,000