KURIAN Vs. STATE OF KERALA

JUDGEMENT

(1.) THE revision petitioner was convicted by the Chief judicial Magistrate, Kottayam, in C. C. No. 56 of 1978, for offences punishable under Sections 409, 465, 471 and 177-A of the Indian Penal Code and sentenced to undergo rigorous imprisonment for one year under Section 409 of the Indian penal Code and rigorous imprisonment for six months under each of the other counts. THE sentences were directed to run concurrently. He filed Criminal appeal No. 159 of 1978 before the Sessions Judge, Kottayam. THE Sessions Judge confirmed the conviction under Sections 409 and 477-A of the Indian Penal Code and reduced the sentence under Section 409 of the Indian Penal Code to six months. THE conviction and sentences under Sections 465 and 471 of the Indian penal Code were set aside. THE revision petition is directed against the conviction and sentences under Section 409 and 477-A of the Indian Penal Code.

(2.) THE facts of the case are as follows : THE petitioner was permanent employee of the Central Bank of India , Kottayam branch. An extension counter had been functioning during the relevant period at the Rubber board Office at Puthupally to facilitate the operation of savings account transactions of the staff of the Rubber Board. THE revision petitioner was functioning as a C Grade Cashier in the extension counter in November 1977. THE depositors having accounts in the extension counter were being issued pass books wherein the deposits and withdrawals were entered. Separate accounts regarding the transactions were maintained in the Kottayam branch. THE daily transactions were entered in a token book as well as a teller card maintained in respect of individual customers. Amounts were being withdrawn on presentation of withdrawal slips signed by the party. THE petitioner was having custody of the relevant records. On the basis of the token book entries were being made in the ledger maintained in the branch office at Kottayam and this account was being checked by the Accountant.

(3.) THE Central Bank of India, of which the petitioner was an employee, is included in the first schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Under the said Act, certain then existing banks which were functioning as banking companies not being foreign companies were converted into nationalised banks. THE banking companies so converted and the corresponding new banks are included the First schedule. Under S. 3 (3) of the Act, the entire capital of each corresponding new bank stood vested in, and allotted to, the Central Government. Sub-section (4) of S. 3 mentions that every corresponding new bank is a body corporate with perpetual succession and a common seal with power, subject to the provisions of the Act to acquire, hold and dispose of property, and to contract, and may sue and be sued in its name. It is thus clear that after the above enactment the central Bank of India became a bank of which the entire share capital vested in the Central Government.