Mumbai, Sept. 21 -- A special Central Bureau of Investigation (CBI) court on Saturday granted bail to former Union Bank of India chairman and managing director Arun Tiwari in a Rs.50-crore bank fraud case. Tiwari is accused of abusing his position and consciously violating the bank's guidelines while sanctioning and subsequently ratifying credit facilities to a private company, Excel Metal Processors Pvt Ltd. According to the order by special judge PB Ghuge, the CBI had registered the case against Tiwari on March 9, 2020 on the basis of a complaint by Rajiv Mishra, then deputy general manager of Union Bank. The agency alleged that Excel Metal Processors, through its directors Mohammed Iqbal Khan and Imran Khan, opened six Letters of Credit in favour of four entities shown as suppliers. The purported supplier companies then discounted the bills using financial assistance from UCO Bank, while the proceeds were allegedly diverted in collusion with associates and unknown public servants. While Tiwari was not named in the initial charge-sheet, the CBI subsequently filed a supplementary charge-sheet against him, alleging that he had "consciously violated the bank guidelines" while the credit facility was being issued and later ratified. Tiwari, represented by advocates Ejaz Khan and Harsh Mall, opposed the allegations and sought bail, pointing out that he had cooperated with the investigation, had never been arrested and had appeared before the court after being summoned. Special public prosecutor RS Mhamane opposed the application, contending that Tiwari was involved in a serious offence. Judge Ghuge observed that it was the "settled legal position" that after filing of the charge-sheet, particularly where an accused had not been apprehended during investigation and had remained available to the investigating agency, bail could be granted subject to conditions. "The application accordingly deserves to be allowed," he said....