SHILLONG: Giving a partial relief to the ‘Chancellor’ of CMJ University, Chandra Mohan Jha, the High Court of Meghalaya on Tuesday ordered release of Rs.15.62 crore (Rs. 15,62,43,477.46p) out of the frozen amount of over Rs.30.42 crore (Rs.30,42,87,709.17p).
Over Rs.30.42 crore was frozen by the Investigation officer during the inquiry into the alleged irregularities in the functioning of the University.
Chief Justice Uma Nath Singh ordered the release of frozen money as Jha has to meet some financial obligations of the CMJ Foundation, the CMJ University and also in respect of individual liability.
The Court ordered that Rs.10,26,68,744 should be de-frozen from 17 fixed deposits and one savings deposit accounts in the name of CMJ Foundation in Punjab National Bank, Shillong.
The Court also ordered de-freezing of another seven fixed deposits and saving accounts amounting to Rs.5,35,74,733 from Axis Bank, Shillong.
The investigation officer had frozen as many as 67 fixed deposits and savings accounts in the name of CM Jha, wife Indu Rani Jha, sons Govind Jha and Gopal Jha , CMJ University and CMJ Foundation at Punjab National Bank.
Similarly, 42 accounts were frozen in Axis Bank, Shillong by the investigation officer which were in the names of C.M. Jha, wife Indu Rani Jha, sons Govind and Gopal and CMJ Foundation.
Two saving accounts in the name of CMJ University were frozen in Union Bank of India, Nebsarai Branch, New Delhi, while another savings account in the name of CMJ University was also frozen in ICICI Bank, Shillong branch.
Earlier, the counsel of Jha submitted before the court that after registering of criminal proceedings against the University in 2013, the Investigating Officer of the case through his own letter and without taking permission from the court had frozen all the bank accounts of the University as well as the CMJ Foundation.
Further, Investigating Officer had also frozen the fixed deposits in the name of the foundation as well as the personal accounts of Jha, his wife Indu Rani Jha, and both sons, Gopal and Govind, the counsel of Jha argued.
The counsel of Jha also submitted that due to freezing of the accounts, his clients had to undergo serious financial crises.
He also submitted that CM Jha is unable to pay the salary of the staff of the Foundation as well as the CMJ University and added that the Chief Judicial Magistrate by earlier two orders in the year 2014 had already released several accounts of the CM Jha on the basis of concession granted by the Investigating Officer even in the midst of investigation.
While ordering release Rs 15.62 crore, the Court said that the issue of releasing all the frozen accounts would have to await the availability of charge-sheet which was informed to have been filed during the course of hearing and the High Court also directed the trial court to submit a certified copy of the charge-sheet placed on record by the Investigating Officer.
