Late Hiteswar Saikia’s son Granted Bail in ASCARD Bank Case

Ashok Saikia, son of former chief minister Hiteshwar Saikia, was granted bail by a special CBI court in Guwahati on Monday a day after he was arrested by the CBI in connection with a 25-year-old alleged loan-default case.

“His lawyers have informed me that bail has been granted and he will be out in some time… We will have more information soon,” Debabrata Saikia, his elder brother and Leader Of Opposition in Assam Assembly, said.

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Ashok Saikia, a businessman in his fifties, was arrested from his residence by the CBI on Sunday evening for allegedly defaulting on a loan worth Rs 9.37 lakh from the Assam State Cooperative and Agriculture Development (ASCARD) bank in 1996.

In 1998, the bank employees had filed a case in this connection. However, Ashok Saikia, in a statement on Sunday claimed that the loan had been repaid through a “compromised settlement scheme” and he had evidence for it.

A notice under the letterhead of the ASCARD bank, dated October 28, 2015 and signed by the bank’s general manager in-charge, was shared by Debabrata Saikia.

It said that all dues — both principal and interest — had been fully repaid, and the loan had been liquidated.

“Before the CBI arrived at my residence, I did not receive any notice from the CBI officers or the CBI court. Only the government or the CBI can say why I have been arrested in such a baseless case,” the Saikia’s statement added.

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