JUDGMENT

1. This petition has been filed by the petitioners under Section 439 Cr.P.C. praying to enlarge them on bail in connection with FIR No.05(03)2022 under Sections 403/409/420/120-B/468/471/477A/34 IPC and Section 13 of PC Act on the file of CB Police Station.

2. The case of the prosecution is that on 2.3.2022, the Manager of Punjab National Bank, Kanglatongbi Branch reported that a possible fraud in the Start Up Manipur Government Scheme was committed by some officials of Punjab National Bank, namely Singshit Khupden, Manager in collusion with other persons. The Start Up Scheme was introduced by the State Government in 2018 with an aim to enable unemployed persons to take up new ventures with subsidies ranging from Rs.1 lakh to Rs.30 lakh. The loan amount is to be sanctioned first by the bank (70% component) and after that, the Government will release 30% component as subsidy. The borrower has to open a loan account and the loan amount will be credited to the said account. On 5.11.2021, the Bank of Baroda, the Nodal Bank of the Start Up Scheme deposited a sum of Rs.1,77,09,000/- to Punjab National Bank, Kanglatongbi Branch with respect to 7 approved beneficiaries. However, wit