RIDDHIBEN BATUKBHAI DAGRA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) RULE. Learned APP waives service of notice of Rule for and on behalf of the respondent - State of Gujarat.

(2.) Learned advocate for the applicant submits that the applicant is a lady accused and has been falsely enroped in the offence. It is submitted that the prosecution alleges that since 12/6/2023, the original informant has been serving as the Regional Head (AGM) at the Bank of Baroda's Bhavnagar office. Under a government scheme for small-scale industries, loans were sanctioned based on applications verified by the bank's Branch Manager and Credit Officer. However, an audit in April 2023 revealed that multiple loans were granted using forged quotations and invoices. Upon verification, the required machinery was found missing at the business locations. Some accused repaid the loans after receiving notices, while others failed to do so. Allegedly, the bank officials did not follow SOPs, and the accused colluded to fraudulently obtain loans, causing a financial loss of Rs.1,01,35,341.00. The present applicant is a lady accused and she has not played any active role in the offence. To show her bonafide, upon instructions, applicant has shown her willingness to pay off the remaining loan amount i.e. Rs.11,72,990.00. There is nothing to be recovered or discovered from the present applicant. It is further submitted that, considering the nature of the offence, the applicant may be granted bail with the imposition of suitable conditions.

(3.) Learned APP, appearing on behalf of the respondent-State has opposed the grant of bail, considering the nature and gravity of the offence. It is submitted that the present applicant siphoned off a huge amount in collusion with the Bank Manager and co-accused. They forged invoices and quotations to receive the subsidy amount in their accounts. The applicant herself submitted the forged documents to obtain the loan. Therefore, the present application may be dismissed.