PARTHASARATHY Vs. STATE OF ANDHRA PRADESH

JUDGEMENT

(1.) The Criminal Petition, under Sec. 438 of the Code of Criminal Procedure, 1973, is filed on behalf of the petitioner/A.3 to grant anticipatory bail in connection with Crime No.104 of 2022 of Bangarupalem Police Station, Bangarupalem.

(2.) A case has been registered against the petitioner along with others for the offences punishable under Ss. 409, 420 R/w 34 of I.P.C.

(3.) The facts of the case are that one A. Prakash Babu, gold appraiser in Chittoor Main Branch, was called for quarterly re-appraisal of gold loans as per bank extant guidelines. On re-appraisal of the gold pledged in gold loans sanctioned during quarter ended March, 2022, it was found that gold in gold loans availed by some borrowers is spurious. As there is suspicion with regard to the earlier gold loans also, all the gold loans as on 12/5/2022 are reappraised and found that gold pledged in 25 gold loans availed by 5 borrowers, is spurious. On enquiry, it is alleged that Accused No.1, who is working as regular gold appraiser in Gollapalli branch, confessed that he himself has kept spurious gold ornaments and got sanctioned loans in the name of 5 borrowers. He managed to take the loan amount from those 5 borrowers by way of cash and UPI transfer to his personal account in Indian Bank. He also confessed that he along with the petitioner and others have reappraised the gold loans in the last year. Basing on the said accusation, the name of the petitioner was implicated in the said crime.