MURTHY V K Vs. STATE

JUDGEMENT

(1.) The petitioner/ defacto complainant Bank has filed this petition seeking cancellation of bail under Section 439(2) of Cr.P.C. against the order dated 12.10.2017 passed by the learned Principal Sessions Judge in Crl.M.P.No.15577 of 2017, wherein, bail was granted in favour of the respondents 2 and 3/ A1 and A2.

(2.) The case of the prosecution is that the defacto complainant Bank is a Scheduled Bank under the Reserve Bank of India established in the year 1924. The Bank has millions of customers and the business of the Bank is being carried out with the funds deposited by the customers who are maintaining savings bank/ current accounts, fixed deposits and loans.

(3.) The Vigilance Department of the Bank conducted surprise inspection of jewels under jewel loan accounts of Anna Nagar West Extension Branch during the second week of August, 2016, and the Vigilance Department came to know that the jewels pledged by the respondents 2 and 3/ A1 and A2 for availing loan are imitation jewellery and not genuine gold jewels.