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Vijayamohan Nair vs State Of Kerala on 7 April, 2010

Kerala High Court
Vijayamohan Nair vs State Of Kerala on 7 April, 2010
       

  

  

 
 
  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.
                      ------------------------
                     B.A. No. 2033 of 2010
                ------------------------------------
               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

ln

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