Ajay Mohan Goel, J.

By way of this petition filed under Section 438 of the Code of Criminal Procedure, the petitioner has prayed for grant of bail with respect to FIR No. 98/2016, dated 03.06.2016, registered under Sections 420 & 120-B of the Indian Penal Code and Section 66C of the IT Act at Police Station Indora, District Kangra, H.P.

2. I have heard the learned counsel for the parties and have also gone through the status report, which has been filed by the learned Deputy Advocate General as well as records of the case produced by the State.

3. A perusal of the records demonstrate that allegations against the accused in the said FIR, which also includes the present petitioner, is of misappropriation of public money/property of Kangra Central Cooperative Bank Ltd., Nurpur by making illegal transactions in a fraudulent manner with the intention to cause wrongful loss to the bank and wrongful gain to the accused, as a result of a conspiracy hatched in this regard amongst them. The alleged fraudulent transactions are to the tune of Rs.58,50,000/-, which in my considered view, is a huge amount. As per the State, one of accused happens to be an employee of the Kangra Central Co