SANJAY KUMAR Vs. STATE OF BIHAR

JUDGEMENT

(1.) Both these applications have been filed by the petitioners for quashing the order dated 18-02-2011 passed by learned Sub Divisional Judicial Magistrate, Gopalganj in Complaint Case No. 70 of 2006 by which, learned Magistrate took cognizance against the petitioners for the offences under Sections-406, 420, 465 of the Indian Penal Code. Both petitions arise out of same impugned order and, accordingly, they are being heard and disposed off by this common judgment.

(2.) Heard learned counsel for the petitioners. Though notice was validly served upon opposite party No. 2 but none appeared on his behalf.

(3.) It has been submitted that petitioners were at the relevant time deputed in Gopalganj Central Co-operative Bank Ltd. and were performing various duties as described in paragraph-5 of the Cr. Misc. No. 19943 of 2012. It has been submitted that bank advanced loan to the PACS for different beneficial schemes managed by the State Government for betterment of the agriculturists. The bank had advanced the loan to the PACS of the complainant and the loan remained unpaid to the extent of Rs. 38,64,540/- There is procedure enshrined in the Co-operative Societies Act permitting set off the loan and accordingly, Rs. 18,00,000/- has been adjusted from the account of the PACS towards the outstanding loan. The complainant has made grievance in the complaint that the aforesaid Rs. 18,00,000/- has been illegally misappropriated by the bank (accused persons) causing loss to the PACS of the complainant.