IIFL FINANCE LTD. Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Petitioner is before the Court seeking for the following reliefs:

(2.) The Petitioner lodged a complaint alleging that the accused, Smt. Ashwini, had been employed with Karur Vysya Bank, Kengeri Branch, since the year 2022 and was functioning as Assistant Manager as well as Customer Service Officer / Jewellery Loan Officer. It is stated that during a surprise re- appraisal conducted on 6/10/2025 and 7/10/2025, serious irregularities were detected in relation to gold loan accounts handled by the said Smt. Ashwini. Upon verification, it was allegedly found that she had indulged in acts amounting to theft and criminal breach of trust, by clandestinely removing genuine gold ornaments pledged by customers and replacing them with spurious articles. Such fake articles were found in 34 gold loan packets, involving approximately 3.398 kilograms of gold ornaments, valued at around 3 crores, on the basis of which the complainant Bank had disbursed loans aggregating to 1.73 crores. It is further alleged that 17 jewel loan packets were found missing altogether, which were stated to contain approximately 1.557 kilograms of gold ornaments, valued at about 1.5 crores, in respect of which loans to the tune of 89.01 lakhs had been sanctioned and disbursed.

(3.) On the basis of the said complaint, an FIR in Crime No.0489/2025 came to be registered for offences punishable under Ss. 316(2), 316(5) and 318(4) of the Bharatiya Nagarik Nyaya Sanhita, 2023 (hereinafter referred to as "BNNS").