R. CHELLAPANDIAN Vs. STATE AND ORS.

JUDGEMENT

(1.) THE petitioner is arrayed as Accused No. 2 in C.C. No.134 of 2008 pending on the file of the Court of Judicial Magistrate No.III, Madurai and originally, he along with Dinakaran, former Secretary, Mythili, former Cashier and Manikandan, former Jewel Valuer, were prosecuted for the commission of the offences under Sections 120(B), 408, 477(A) r/w 34 of Indian Penal Code and pendency of the trial, Accused No. 4 has died and, therefore, he has been deleted from the array of the accused.

(2.) THE petitioner is the former President of MD Special 188 Ramakrishnapuram Primary Agricultural Co -operative Bank, Ramakrishnapuram, Uthamapalayam Taluk, Theni District and as per the allegations levelled against him, he was the President of the Society between 1996 and 2001 and he is fully responsible for the affairs of the Society and so also, the jewels in the custody of the second respondent Society. It is further alleged that between 07.11.2000 and 31.03.2001, all the accused connived together and disbursed loans to 50 persons on the basis of pledging of fake gold jewels and that in respect of two jewel loan account numbers, though the amounts were paid and loans were discharged, the payment of the said amounts were not brought to the account and, thereby, a misappropriation of Rs.5,39,150/ - (Rupees Five Lakhs and Thirty Nine Thousand and One Hundred and Fifty only) took place.

(3.) THE second respondent Society has filed the counter opposing the said petition stating, among other things, the petitioner/ accused No. 2 has also played his role in the commission of the offence and he has pledged 7 items - 13 numbers of gold jewels and on a careful verification of list submitted before the Trial Court, it was found that the jewel loan No. 407 of petitioner/Accused No. 2 is not yet redeemed and there is also variance in the amount, as it has been mentioned as 'Rs. 21,500/ -' instead of 'Rs.16,500/ -'. There are also other discrepancies noted.