K. RAMAKRISHNA Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) This petition is filed under Sec. 439 of Cr.P.C., seeking regular bail of the petitioner/accused in ECIR/BGZO/09/2020 registered with Directorate of Enforcement, Bengaluru Zonal Office, Bengaluru, for the offences punishable under Ss. 3 and 4 of Prevention of Money Laundering Act, 2002 ('PMLA Act' for short).

(2.) Heard the learned senior counsel appearing for the petitioner and the learned counsel appearing for the respondent.

(3.) The factual matrix of the case of the prosecution is that on 7/2/2020 at about 2:10 p.m, the S.H.O., of Banasawadi police Station received the Type Written information of Mr. A. Santhosh Kumar, the then C.E.O., of Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru and on the basis of the same, a case in Crime No.69/2020 came to be registered for the offences punishable under Ss. 406, 420, 409, 120B read with 34 of IPC and also invoked Sec. 9 of the Karnataka Protection of Interest of Depositors in Financial Establishments Act. A case was registered against seven accused persons in connection with misappropriation of funds and fraud committed in connection with the affairs of Sri Guru Raghavendra Sahakara Bank, Netkallappa Circle, Bengaluru. The said FIR is transferred to Basavanagudi Police Station on the point of jurisdiction. One more case has been registered in Crime No.37/2020 for the same offences. Thereafter, the investigation of the case was transferred to the CID and the Investigating Officer gave requisition to delete the offence under Sec. 9 of the Karnataka Protection of Interest of Depositors in Financial Establishments Act and after the investigation the said case is numbered as C.C.No.28892/2021.