Bail application rejected for the first accused in a cooperative bank misappropriation case under IPC and Kerala Co-operative Societies Act, invoking Supreme Court directions on bail in serious economic offences.
Bail application dismissed; accused not released on bail.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE RAJA VIJAYARAGHAVAN V
MONDAY ,THE 01ST DAY OF OCTOBER 2018 / 9TH ASWINA, 1940
Bail Appl..No. 6239 of 2018
CRIME NO. 455/2018 OF MALAYALAPUZHA POLICE STATION, PATHANAMTHITTA
PETITIONER/ACCUSED:
PRAVEEN PRABHAKAR, AGED 34 YEARS, S/O.P.K.PRABHAKARAN, PRABHATH HOUSE, KUMARAMPEROOR, VADAKKEKKARA VILLAGE, PEZHUMPARA P.O., VADASSERIKKARA, PATHANAMTHITTA DISTRICT.
BY ADVS.SRI.C.K.VIDYASAGAR SRI.P.CHANDY JOSEPH
RESPONDENT/S:
1 STATE OF KERALA REPRESENTED BY THE PUBLIC PROSECUTOR, HIGH COURT OF KERALA-682031.
BY PUBLIC PROSECUTOR SRI.K.A.ANAS
THIS BAIL APPLICATION HAVING COME UP FOR ADMISSION ON 01.10.2018, THE COURT ON THE SAME DAY PASSED THE FOLLOWING:
Bail Appl..No. 6239 of 2018
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O R D E R
This application is filed under § 439 of the Cr.P.C.
Bail Appl..No. 6239 of 2018
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decade. Culpability has been placed on the applicant without physically verifying the accounts. It is contended that the applicant herein joined the Bank as a peon in the year 2008 and due to the dint of his hard-work was appointed the Branch incharge on 31.05.2017. It is submitted that on taking charge as
the Manager in-charge, he realized that massive fraud has been committed by the previous Branch Manager. When this was brought to the notice of the authorities, including the Secretary, the applicant was told that the former officers would make good the loss. It is finally submitted that the applicant had surrendered before the learned Magistrate on 31.7.2018 and having regard to the long period of incarceration undergone by him, he is entitled to be released on bail.
the original deeds submitted before the bank for obtaining short term loans were misutilized after closing the loan and using
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those documents, various other loans were availed by the applicant. It is contended that the investigation has revealed that the applicant has dishonestly misappropriated money from fixed deposits without the knowledge or consent of the depositors. Finally, it is submitted that adjustment entries were made in the computer to conceal the fraud. According to the learned Public Prosecutor, on a conservative estimate, the amount defrauded comes to the tune of Rs.4.31 Crores. The investigation is at a very critical stage and if he is released on bail, the applicant would manage to tamper with the evidence and influence the witnesses is the submission.
bail. Offences of misappropriation and breach of trust involving huge loss of public funds and affecting the financial health of the
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economy need to be viewed seriously. Prima facie, there appears
to be clinching materials against the applicant herein and the
investigation being in the early stages, I am not persuaded to
grant an order of bail to him at this stage.
This application will stand dismissed.
Sd/-
RAJA VIJAYARAGHAVAN V., JUDGE
Dxy
//TRUE COPY// P.A. TO JUDGE
3 issues framed by the court
Whether bail should be granted to the accused in a case involving misappropriation of public funds under economic offence provisions.
Whether the interim investigation report against the accused warrants rejection of bail in a criminal negligence or financial fraud case.
What the legal approach is for granting bail in economic offences involving huge loss of public funds, considering the Apex court precedents.
3 provisions across 3 enactments
Praveen Prabhakar
State of Kerala
Raja Vijayaraghavan V
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
