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Judgment
12 paragraphs · 537 wordsViju Abraham, J.
This is an application for regular bail.
The petitioner is the 6th accused in Crime No.1467 of 2022 of the Fort Police Station, Thiruvananthapuram District registered alleging commission of offences punishable under Sections 406 and 420 read with Section 34 of the Indian Penal Code.
The prosecution allegation against the petitioner and other accused is that the accused Nos.1 to 5 pledged spurious gold ornaments at the Sreekanteswaram branch of lndian Overseas Bank and received Rs.96,44,000/- with the help of petitioner. It is alleged that the 1st accused pledged spurious gold ornaments for Rs.24,18,000/-between 24.06.2022 to 24.08.2022 whereas the 2nd accused pledged gold ornaments for Rs.25 lakhs between 11.07.2022 to 29.07.2022. The 3rd accused pledged spurious gold ornaments worth Rs.23,49,000/-between 24.08.2022 and 05.09.2022 whereas the 4th accused pledged spurious gold ornaments worth Rs.23,77,000/- between 05.09.2022 to 15.10.2022. The 5th accused also pledged spurious gold ornaments. It is alleged that the accused Nos.1 to 5 committed the crime with the help of the petitioner, who is the Appraiser of the bank and thereby the accused have committed the abovesaid offences.
Petitioner submits that the allegation against him is not correct. It is the bank officials who are also responsible for the acts of the petitioner as an appraiser as the gold items are verified by the officials concerned also and that without the verification of the official in charge, the loan could not be approved. Petitioner also submits that the ornaments pledged by accused Nos.1 to 5 are undetectable and could be identified as fake on heating or high precision examination, which is not available in the bank. Petitioner is in custody from 20.10.2022 onwards.
Learned Public Prosecutor opposed the application for bail mainly contending that huge amount of loan was availed by accused Nos.1 to 4 by pledging spurious gold ornaments and the loan was sanctioned only based on the report of the petitioner who was the appraiser of the bank. Learned Public Prosecutor upon instructions further submitted that the petitioner is not involved in any other crimes.
Considering the facts and circumstances of the case and also taking into consideration the period of detention, ie. from 20.10.2022 onwards and also the fact that the petitioner has no other criminal antecedents, I am inclined to grant bail to the petitioner. In the result, the bail application is allowed. It is directed that the petitioner shall be released on bail subject to the following conditions:
(i) The petitioner shall execute a bond for Rs.50,000/-(Rupees fifty thousand only) with two solvent sureties each for the like sum to the satisfaction of the jurisdictional court.
(ii) He shall appear before the investigating officer in Crime No.1467 of 2022 of the Fort Police Station, Thiruvananthapuram District on all Saturdays at 11.00 a.m. until filing of final report.
(iii) He shall not attempt to interfere with the investigation or to influence any witness in the abovesaid crime.
(iv) He shall not involve in any other crime while on bail.
If any of the aforesaid conditions are violated, the investigating officer in Crime No.1467 of 2022 of the Fort Police Station, Thiruvananthapuram District may file an application before the jurisdictional court, for cancellation of bail.