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AVNEESH JHINGAN
Anmolpreet Singh – Appellant
Versus
State Of Punjab – Respondent
JUDGMENT
Avneesh Jhingan, J. (Oral) - This petition under Section 439 Cr.P.C. is filed seeking regular bail in FIR No. 11, dated 18th February, 2020 under Section 409, 420 and 120-B IPC [Sections 419, 465, 467, 468, 471, 477-A IPC, Sections 7 and 13 of the Prevention of Corruption Act, 1988 and Sections 66 and 66(D) of the Information Technology Act, 2000 were added later on], registered at Police Station Tarsikka, Amritsar, District Amritsar.
2. The FIR was registered on the complaint made by Kulbir Singh, Branch Manager of Tarsikka, Branch Amritsar, Central Cooperative Bank (for short 'cooperative Bank'). As per the allegations there was embezzlement/ misappropriation of an amount of Rs.2,82,43,958/-. During investigation it revealed that the misappropriation was more than of Rs.18 crores and Bank employee, Secretaries of Cooperative Societies were nominated. Rakesh Kumar was the Branch Manager of Tarsikka Branch, Amritsar, during the relevant period. The role attributed is that his ID was used for making transactions to syphon off the amount. Ram Kishore was the cashier of the cooperative branch at the relevant time. The role attributed to him is that he in connivance with the Bra
The decision to grant regular bail was influenced by the lack of allegations of active participation in the embezzlement, the absence of recovery to be made from the petitioner, and the circumstances....
Court grants bail to the accused in economic offences considering age, health, and previous custody, despite serious allegations of financial misappropriation.
Point of Law : Power under Section 438 of Cr.P.C, being an extraordinary remedy, has to be exercised sparingly, otherwise same would adversely affect investigation.
The court's discretion in granting regular bail under Section 439 Cr.P.C. in cases involving allegations of cheating and misappropriation of funds.
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