SERAM OLISH SINGH Vs. OFFICER-IN-CHARGE, CB POLICE STATION

JUDGEMENT

(1.) This petition has been filed by the petitioners under Sec. 439 Cr.P.C. praying to enlarge them on bail in connection with FIR No.05(03)2022 under Ss. 403/409/420/120-B/468/471/477A/34 IPC and Sec. 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.1.00 lakh to Rs.30.00 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.1,77,09,000.00 to Punjab National Bank, Kanglatongbi Branch with respect to 7 approved beneficiaries. However, without opening of loan accounts, the subsidy amounts were deposited in the personal accounts of the beneficiaries. This irregularity was detected in the follow up meeting and hence, FIR No.5(3)2022 under Ss. 403/409/420/120-B/468/471/477A/34 IPC and Sec. 13 of PC Act was registered against the accused persons.

(3.) Mr. P. Praveen Kumar, the learned counsel for the petitioners submitted that the petitioners are innocent, who have been made to suffer bare allegations of being involved in the commission of the offences aforesaid without any cogent material and that no prima facie case has been made out against them till date. He would submit that the then Branch Manager of Punjab National Bank, Kanglatongbi Branch was already released on bail.