SUBODH GUPTA Vs. STATE CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) This is a bail application filed by Subodh Gupta.

(2.) Briefly, the facts are that D.K.Nayyar was the Branch Manager of Punjab National Bank, Kamla Nagar, Agra Branch during the period June 1992 to May, 1998. Perhaps, some complaints about financial irregularities/suspected misappropriation of Bank funds were made against him and he was placed under suspension. Shri K.C. Bansal who had replaced him as Branch Manager made four complaints dated 25.6.1998 on the basis of which four cases RC-01(E)/98-SIU(IX) to RC-4(E)/98-SIU(IX) were registered by the Central Bureau of Investigation (CBI) on 30.6.1998.

(3.) The petitioner has been arrested in RC-02 and RC-03 on3.7.1998. D.K.Nayyar who remained untraceable for some time was also arrested later on on 8.7.1998. In RC-02 and RC-03, allegations been made about financial irregularities/fraudulent withdrawals/misappropriation of Bank funds amounting to Rs. 2,14,84,692 .00 have been made against D.K. Nayyar who acted in collusion/conspirary with petitioner Subodh Gupta.