JUDGMENT

1. By way of the present petition under Section 482 of the Code of Criminal Procedure, 1973 (hereinafter referred to as `Cr.P.C.') the petitioner seeks quashing of the proceedings in ECIR No.03/DZ/2011/AD(SC)/SDS dated 24.02.2011 under sections 3 and 4 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as `PMLA') and the proceedings emanating therefrom.

2. Shorn off unnecessary details, the facts as borne out from the petition are that the petitioner is presently working at the post of Chief Engineer (Projects) in Uttar Pradesh State Industrial Development Corporation since 2005. The CBI/Dehradun branch received an information that five employees of Punjab National Bank (hereinafter referred to as `PNB') and other persons had during the period from November, 2005 to December 2006 entered into a criminal conspiracy and made false entries in the accounts of PNB, Vidhan Sabha branch, Dehradun allowing deposits and withdrawal from five fictitious accounts maintained in the name of non-existent persons at PNB, Arya Vanprastha Ashram Branch, Jwalapur, Haridwar. By doing so, said persons misappropriated the funds of PNB and also caused a pecuniary gain