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MOHIT KUMAR SHAH
Keshav Kumar – Appellant
Versus
State Of Bihar – Respondent
ORDER :
1. The learned counsel for the parties were heard at length on 27.01.2021 and the present case has been listed today 'For orders'.
2. The petitioner apprehends his arrest in connection with Special Case No. 08 of 2017 arising out of R.C. Case No. 04(A) of 2017 for the offence registered under Section 120(B) read with Section 420 of the Indian Penal Code and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988.
3. The case of the prosecution in brief, according to the complaint made by the Deputy General Manager, Canara Bank, Circle Office, Patna before the Superintendent of Police, Economic Offence Wing, C.B.I., Ranchi is that during the course of risk based internal audit of Aurangabad Branch of Canara Bank, certain irregularities regarding non-availability of securities, non-availability of loan documents, sanction of loans beyond delegated power and violation of norms and guidelines of the bank were reported and instances of indiscriminate lending were also discovered. It is alleged that the Aurangabad Branch of Canara Bank had sanctioned various loans including loan against securities (Valuable Securities Loan i.e. V.S.L.) amounting to a sum o
The court emphasized the necessity for fair investigation and the importance of evidence in determining criminal liability in cases of alleged conspiracy and fraud in loan sanctioning processes.
Bail in economic offences should be denied to protect the larger public and state interest and prevent tampering with witnesses.
The court established that a lack of prima facie evidence warrants quashing of criminal proceedings, emphasizing the limited scope of judicial review under Section 482 of the Cr.P.C.
The court ruled that mere participation as a guarantor does not exempt an individual from culpability in allegations of economic offenses, emphasizing the gravity of the charges and the necessity for....
Point of Law : “in economic offences, the accused is not entitled to anticipatory bail.
The court reaffirmed that misappropriation of loan funds constitutes a criminal offense regardless of subsequent recovery through civil actions.
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