R M MANJUNATHA GOWDA Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed by the petitioner/accused No.15 under Section 439 of Cr.P.C. seeking his release on bail of the offences punishable under Sections 406, 408, 409, 420, 120B read with Section 34 of IPC registered in respondent police station Crime No.325/2014.

(2.) Heard the arguments of the learned Senior Counsel appearing for the petitioner/accused No.15 and also the learned High Court Government Pleader appearing for the respondent-State.

(3.) Learned Senior Counsel for the petitioner during the course of his arguments submitted that looking to the complaint averments and also the other materials collected by the Investigating Officer during investigation, so far, there is no allegation as against the petitioner that he has misappropriated the said amount. The allegation against the petitioner is that though audit objections were raised in the audit reports for the previous periods, the petitioner being the President of the DCC Bank has not placed those audit reports particularly, the audit objections in the Annual General meetings and no steps have been taken to remedy the objections. The learned Senior Counsel submitted on this ground, the allegation is made against the petitioner that he has conspired with other accused persons and misappropriated the amount of the Bank.