IN THE HIGH COURT OF KERALA AT ERNAKULAM
Bail Appl..No. 2033 of 2010()
1. VIJAYAMOHAN NAIR,S/O.R.K.BHAVAN,
... Petitioner
Vs
1. STATE OF KERALA,REP.BY SUB INSPECTOR
... Respondent
For Petitioner :SRI.LIJU. M.P
For Respondent :PUBLIC PROSECUTOR
The Hon'ble MR. Justice K.T.SANKARAN
Dated :07/04/2010
O R D E R
K.T. SANKARAN, J.
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B.A. No. 2033 of 2010
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Dated this the 7th day of April, 2010
O R D E R
This is an application for bail under Section 439 of the Code
of Criminal Procedure. The petitioner is accused No.1 in Crime No.
66/2010 of Pothankode Police Station, Thiruvananthapuram.
2. The offences alleged against the petitioner are under
Sections 406, 420 and 120-B read with Section 34 of the Indian
Penal Code.
3. The prosecution case is the following:
The petitioner was working as Manager of Muthoot
Mercantile Limited at Pothankode Branch. The other accused
persons are the employees in the Bank. The allegation is that the
accused persons made the records and accounts in such a way
that huge quantity of gold worth Rs, 36,23,500/- was pledged in
Muthoot Mercantile Limited and thereupon they withdrew the cash
from the concern. The offence was detected when an enquiry was
conducted into the affairs of the concern. The matter was
reported to the police and accordingly the crime was registered.
The investigation reveals that the accused persons had made
B.A. No. 2033/2010 2
records to show that some persons had pledged gold ornaments
while really they were all fictitious persons.
4. The investigation of the case is not over. The petitioner
surrendered before the Court on 24.03.2010 and he was
remanded to judicial custody.
5. Taking into account the facts and circumstances of the
case, the nature and gravity of the offence and the allegations
levelled against the petitioner, I do not think that it is proper to
release the petitioner on bail at this stage. If the petitioner is
released on bail at this stage, it would adversely affect the
proper investigation of the case.
For the aforesaid reasons, the Bail Application is
dismissed.
K.T. SANKARAN, JUDGE
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