Special Court Rejects Ashalatha Shetty's Plea in Disproportionate Assets Case
A special court on Tuesday rejected the discharge plea filed by Indian Bank clerk Ashalatha Shetty in a disproportionate assets case involving flat transactions in Thane, Panvel, and Malad. She is charged alongside her husband, former Punjab National Bank deputy manager Gokulnath Shetty, a key accused in the PNB scam involving Nirav Modi and Mehul Choksi.
Special Judge S K Karhale held that sufficient material exists to frame charges against Ashalatha Shetty under the Prevention of Corruption Act and for abetment under the Indian Penal Code. The Central Bureau of Investigation alleged that the couple amassed movable and immovable assets worth about Rs 4.28 crore disproportionate to their known sources of income between April 2011 and May 2017.
According to the CBI, Ashalatha Shetty had an approximate income of around Rs 48 lakh during the check period, but properties worth more than Rs 88 lakh were purchased. The court highlighted three flat transactions in Thane, Panvel, and Malad, where payments of Rs 11 lakh, Rs 15.78 lakh, and Rs 3.01 crore were made respectively from the bank accounts of both accused.
The court noted that although the property sales were not completed because remaining amounts were unpaid, the payments made were treated as expenditures by the investigative agency. The judge observed that Ashalatha Shetty, being a public servant, did not inform her bank or department regarding the booking of the flats and the substantial payments made.
Defence counsel argued that Ashalatha Shetty was not the primary accused, that transactions were handled by her husband, and that the cancelled bookings could not be treated as disproportionate assets. The defence also submitted that as a clerk, she was not required to declare properties to her bank.
Opposing the plea, CBI public prosecutor Manphool Bishnoi stated that both individuals were public servants who acquired joint properties with funds from their accounts, demonstrating unexplained assets.
