AMAR NATH DAS Vs. STATE OF BIHAR

JUDGEMENT

(1.) THIS is an application for grant of regular bail filed on behalf of petitioner, Amar Nath Das, an employee of the Punjab National Bank posted at P.N.B. Main Bazar Branch, Katihar, and who is an accused in Complaint Case No. 499 of 2005 instituted under Sections 406 and 420 of the Indian Penal Code.

(2.) AT the very outset, I would like to say that the case appears to be a simple case of misappropriation of Rs. 49,750/- but I have no hesitation to say that the case is of serious nature as the total amount misappropriated by the petitioner and others exceeds rupees one crore. Moreover, the very pertinent question which arises for consideration is : Whether the petitioner and others who are employees of a public sector undertaking i.e. Punjab National Bank, can be permitted to run a financial organisation involving general public in the name of Karmchari Sahkari Samitti and obtain financial benefit from such organization ?

(3.) UNDER the circumstances mentioned above, I am of the opinion that it is not a simple case of misappropriation of the amount of Rs. 49,750/- but the total amount which has not been paid to the depositors exceeds rupees one crore (as I have been told) and as such, I am not inclined to enlarge the petitioner on bail and hence, his prayer for bail is hereby rejected.