SHAMBHU SINGH Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) The petitioner has filed this application under section 439 Crimial P.C. in Crime No. 131/94 registered at Police Station Srimadhopur District Sikar for the offences punishable under Sections 420, 467 & 468 IPC. It appears that the petitioner was working as Assistant Branch Manager at Srimadhopur in a Public Limited Company Amfort Agro Finance limited. The said company has its registered office at Jaipur and the petitioner was appointed on the said post on 18.2.94 w.e.f. 25.2.94 as per the appointment letter Annexure-1.

(2.) It appears that the aforesaid company was floated with an object to give finance to the agriculturists to purchase tractor. A person who desired to obtain the loan was required to deposit margin-money and this margin money was to be transmitted to Head Office at Jaipur. The allegation of the complainant is that Rs. 48,000.00 were deposited by the informant as margin-money with the petitioner and a receipt was passed to him, but neither he was given the loan nor margin amount was returned as such the said amount has been fraudulently mis-appropriated.

(3.) The learned counsel for the petitioner contends that so far the petitioner is concerned, he was only an employee of the aforesaid company and as per the instruction and guidelines, he obtained the money, which was remitted to the Head Officer. Counsel contended that no money was mis-appropriated by the petitioner and if there was any conspiracy to cheat the agriculturists, it must be at the higher level i.e. between the promotors of the Company. Counsel also contended that employees, similarly circumstanced have been released on bail by other Courts also. My attention was drawn to the order dated 4.8.94 of the Sessions Court Merta where one Govind Ram alias Govind lal was granted bail in similar circumstances. He also drew my notice to an order dated 23.7.94 of Additional Chief Judicial Magistrate, Makrana where similar orders were passed.