BALAMBAL Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Criminal Petition No.6990/2019 is filed by accused No.7, whereas Criminal Petition No.6864/2019 is filed by accused No.8 under Section 439 of Cr.P.C. to enlarge them on bail in Crime No.257/2018 of Cubbon Park Police Station for the offences punishable under Sections 120B , 406 , 408 , 409 , 465 , 467 , 468 , 471 , 477A , 506 , 201 and 420 r/w. Section 34 of IPC.

(2.) I have heard Sri Omar Shariff and Sri Shashidhar S. Karamadi, learned counsel appearing for the petitioners-accused Nos.7 and 8; Sri V.M.Sheelavant, learned SPP-I for the respondent-State; and Sri S.K. Venkata Reddy, learned counsel appearing on behalf of the complainant.

(3.) The genesis of the complaint is that Sri Viatheeswaran, Chief Executive Officer of Manipal Integrated Services Private Limited filed the complaint against the accused persons alleging that accused No.1 was working as Deputy General Manager in the said Company. He wrongfully diverted certain amount of Manipal Group Companies and also personal account of the Chairman of Manipal Group Companies in favour of accused Nos.2 to 5. It is further alleged that accused Nos.3 to 5 have colluded with accused No.1 in committing such offence. The auditors were asked to look into the accounts relating to Manipal Group Companies and the personal account of the Chairman. On the basis of the interim report dated 16.11.2018 they confirmed the diversion of funds from various bank accounts to the accounts of wife of accused No.1 and to his personal account maintained in the State Bank of India as well as to the account of the firm M/s.Beehive Advisors, of which accused Nos.1 and 2 were partners. The audit report disclosed that the accused persons have cheated the complainant to an amount of Rs.7,65,31,564/-. On the basis of the said complaint, a case has been registered.