JERRY PAUL Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) The present petition has been filed by the petitioner under Section 438 of Cr.P.C. to release him on bail in the event of his arrest in Crime No.10/2020 of Commercial Street Police Station for the offences punishable under Sections 118, 406, 409, 411, 419, 420, 462, 467, 468, 471, 473, 474, 475, 477(A), 201, 120B r/w 34 of IPC.

(2.) I have heard the learned counsel Sri.Nanjundaswamy N. for the petitioner virtually and the learned Special Public Prosecutor-I Sri.V.M.Sheelavanth and the learned High Court Government Pleader Sri.Mahesh Shetty, for the respondent-State.

(3.) The Managing Director of Karnataka Agricultural Marketing Federation filed the complaint alleging that they have called quotation from various banks for keeping the fixed deposits with the said federation by informing that they will give higher rate of interest. The Board had decided to keep the fixed deposit of Rs.100 Crores in the Syndicate Bank. In pursuance of the same, on 18.11.2019 transferred an amount of Rs.100 Crores from Andhra Bank, Rajajinagar Branch to Syndicate Bank, Uttarahalli Brach through RTGS and the said amount has been kept in two accounts for Rs.50 Crores each. Subsequently, on 21.1.2020 when an enquiry has been made, the bank officials informed that out of the deposited amount of Rs.100 Crores, only Rs.52 Crores has been left out and they also informed that about Rs.48 Crores has been transferred to various accounts and on verification of the certificates given to the bank, they came to know that fabricated certificates have been produced and the amount has been got transferred. On the basis of the complaint a case has been registered.