SRI SRINIVASA AND ORS. Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) This petition is filed by the petitioner/accused No. 1 under Section 438 of Cr.P.C. seeking anticipatory bail to direct the respondent-police to release the petitioner on bail in the event of his arrest for the offences punishable under Sections 409 and 420 of IPC registered in respondent police station Crime No. 369/2017.

(2.) The prosecution case as per the complaint averments are that in 2010 there have been certain irregularities in the operation of the current account in the SBM branch K.R. Pet taluk, which has resulted in a loss to the bank. The officials of the bank in accordance with Section 65(B) of the Karnataka Co-operative Societies Act conducted an enquiry. The Joint Registrar Co-operative Societies, Mysore Division conducted an enquiry under Section 64 of the Karnataka Co-operative Societies Act and also passed an order under Section 68 of the Karnataka Co-operative Societies Act. Further allegation is that the irregularities have resulted in a loss of Rs. 49.73 lakhs to the bank and petitioner herein is liable to pay Rs. 32.20 lakhs. On the basis of the said complaint, case was registered for the alleged offences.

(3.) Heard the arguments of the learned senior counsel appearing for the learned counsel on record for the petitioner, so also, the learned High Court Government Pleader appearing for the respondent-State.