KAPIL DEV Vs. STATE OF PUNJAB

JUDGEMENT

(1.) This petition has been filed under Section 439 of the Code of Criminal Procedure for grant of regular bail in case FIR No. 315 dated 30.12.2008, under Sections 409/ 420/ 467/ 468/ 471/ 120- B of the Indian Penal Code, registered at Police Station Jagraon District Ludhiana.

(2.) The allegation against the petitioner is that while working as a Branch Manager in HDFC Bank, Jagraon Branch, he along with his co-accused had embezzled the money deposited by the customers of the bank to the tune of Rs.3,00,00,000/-.

(3.) After hearing learned counsel for the petitioner, I am of the opinion that the instant petition deserves to be dismissed. Criminal Misc. No.M-25406 of 2010 (O&M) -2- Although the present case is to be tried by the Magistrate and the petitioner is in custody since 30.12.2008 but keeping in view the fact that the offence committed by the petitioner is serious in nature, no ground for grant of bail is made out. The petitioner being Branch Manager of the bank, along with his co-accsed has committed serious offence by embezzling the amount from the accounts of the customers to the tune of Rs.3,00,00,000/-.