NAGALINGASWAMY H.S Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Heard learned counsel for petitioners and learned HCGP on behalf of the respondent-State.

(2.) This petition is by accused No.5 in Cr.No.107/2019 registered by the respondent-police for the offences punishable under Sections 406, 409, 420, 468 and 471 of I.P.C.

(3.) The General Manager, Administration (P&A) of Karnataka State Handicrafts Development Corporation Ltd., (hereinafter referred to as "Corporation") is the complainant. According to the Complainant on 06.02.2019 when the Assistant General Manager, State Bank of India, Bengaluru City Branch, J.C. Road, sent a communication to the Corporation requesting for "authority letter" and as one S.B. account had been opened with the S.B.I. without authority letter of the Corporation he came to know that serious acts of misappropriation by the officials of the S.B.I. along with some employees of the Corporation. In the complaint, it was alleged that during the period from 17.12.2016 to 17.10.2018 large number of transactions had taken place and funds were diverted from Vijaya Bank, Indiranagar Branch, Bengaluru to the above mentioned S.B. Account of S.B.I. It was further alleged that in order to assess the magnitude of the fraud, Corporation had ordered for special audit of all the bank account transactions of the Corporation including the Fixed Deposits and it disclosed commission of cognizable offence in the form of diversion of funds of the Corporation to unauthorized accounts using forged documents, thereby causing loss to the Corporation.