PC PAULOSE Vs. STATE OF KERALA

JUDGEMENT

(1.) THIS is a petition for anticipatory bail under section 438 cr. P. C. filed by the 8th accused in Crime No. 142/09 of mananthavady police station. The allegation is that the accused committed offence punishable under sections 409 and 420 IPC. The crux of the allegation is that the 1st accused is the Appraiser-cum-Junior Clerk of the Farmers Service Co-operative Bank, mananthavady. Accused Nos. 2 to 11 are subscribers of the bank. The petitioner herein pledged fake gold ornaments in the bank and availed a cash loan from the bank which has now accumulated to Rs. 9,64,140/ -. Counsel for the petitioner submits that the petitioner has absolutely no connection with the alleged crime and he has approached the bank only for having genuine transaction with it and on 15. 4. 2009 when the matter was taken up, the counsel for the petitioner made a submission that the 8th accused/petitioner herein is prepared to pay the entire amount i. e. , rs. 9,64,140/- which is the amount involved in this matter to show his bona fides. On 12. 5. 2009 when the matter is taken up, the counsel for the petitioner made available a receipt dated 17. 4. 2009 of the Farmers Service Co-operative Bank, mananthavady, showing remittance of the amount mentioned earlier. It is pertinent to note that already there is an undertaking not to arrest the petitioner made on behalf of the prosecution and it continues from time to time based on orders. Considering the circumstances that the payment has been effected and a receipt for that effect has been furnished, I think the petitioner can be granted the relief of anticipatory bail.

(2.) IN the circumstances, this bail application is allowed. Following directions are issued under Section 438 Cr. P. C in favour of the petitioner.