SANKARAN Vs. STATE OF KERALA

JUDGEMENT

(1.) The petitioner herein is involved as accused in five crimes of the Peechi Police Station, registered under Sections 406, 409 and 420 read with Section 34 of the Indian Penal Code. Those crimes are Crime Nos. 1416 of 2016, 1414 of 2016, 1417 of 2016, 1506 of 2016 and 1415 of 2016. He seeks regular bail under Section 439 of the Code of Criminal Procedure. This is the petitioner's second application for bail under Section 439 Cr.P.C. His first application was dismissed by this Court on 19.08.2016.

(2.) The petitioner herein was a cashier in the Peechi Branch of the State Bank of India. On some days he had charge of the gold loan section when the concerned clerk was on leave. It is alleged that on these dates, some persons pledged spurious gold, and availed huge amount of loan from the Bank, and that they did so with the active support and assistance of the gold appraiser attached to the Bank, and also this petitioner, who was at that time in charge of the gold loan section. The petitioner has been in judicial custody since 16.7.2016. He was arrested on the basis of the definite material showing his complicity in the alleged loan transaction.

(3.) This application for regular bail is opposed by the learned Public Prosecutor on the ground that investigation is still in progress, and that if the accused is now released, he will definitely obstruct the investigation.