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Judgment
The petitioner herein is the Secretary of the
Edamulaykkal Service Co-operative Bank Ltd. He seeks pre
arrest bail under Section 438 of the Code of Criminal
Procedure on the apprehension of arrest and custodial
harassment in connection with Crime No.1812 of 2017 of
the AnchalPolice Station registered under Sections 403,
406, 409 and 420 of the Indian Penal Code.
The prosecution case is that by abusing his
position as Secretary, the petitioner committed
misappropriation of a huge amount of 50 lakhs from the
funds of the Bank. It is submitted by the learned counsel
that it was not in fact an instance of misappropriation, but
only an adjustment for some shareholders of the Bank. It is
also submitted that the petitioner has remitted the entire
amount with 18% interest in the bank and has thus cleared
the liability.
In the nature of the allegations in this case, I feel
it appropriate to direct the petitioner to surrender before
the Investigating Officer for necessary interrogation. His
interrogation is necessary for the collection of some
materials concerning the different instances of the alleged
misappropriation, the ways of misappropriation, the
circumstance of the alleged misappropriation, the actual
amount involved etc. The petitioner''s explanation also can
be presented before the Investigating Officer. After such
interrogation, the request for regular bail can be considered
by the court below having jurisdiction. On a consideration of
all the relevant aspects including the fact that the petitioner
has deposited the entire amount with 18% interest (if true),
appropriate decision on the request for bail can be taken by
the court below. If the petitioner''s judicial custody is not
necessary for investigation after interrogation, the petitioner
can be granted bail on appropriate conditions.
In the result, this bail application is disposed of, as
follows:
a. The petitioner shall surrender before
the Investigating officer between 9 a.m and 10
a.m on any day within seven days from this date
for interrogation.
b. After such interrogation, the
Investigating Officer will produce the petitioner
before the court below having jurisdiction on the
same day before 4 p.m.
c. In case application for regular bail is
filed by the petitioner, the same shall be
judiciously considered and decided on merits by
the court below on the same day.