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Judgment
5 paragraphs · 274 wordsGautam Kumar Choudhary, J
Heard both the sides.
This bail application has been filed on behalf of Vikash Kumar Singh who is in custody since 11.06.2025 in connection with Itkhori P.S. Case No. 116 of 2021 for the offence registered under Sections 406, 420 and 381 of the IPC pending in the Court of Addl. Chief Judicial Magistrate, Chatra is pressed into motion.
The petitioner was the Branch Manager of Bharat Finance Inclusion Ltd. and is alleged in the FIR to have committed an embezzlement of Rs.10,03,343/-. Learned Senior counsel for the petitioner has submitted that no intentional embezzlement was committed by the petitioner and due to computational error, Rs.3,19,632/-, which was deposited by the investors, could not be finally deposited with the Bank. Specific reference is made in para 115 of the case diary where the total sum embezzled has been given to be Rs 3,19,632/- and not Rs 10,00,000/-. The petitioner is in custody since 11.06.2025.
Further, the Petitioner is ready and willing to refund the deficit amount as found during investigation with compound interest at the rate of 9% per annum. Under the circumstance, the petitioner, named above, is directed to be released on bail on furnishing bail bond of Rs.25,000/- (Rupees Twenty Five Thousand) with two sureties of the like amount each, to the satisfaction of learned Court below, subject to condition that the petitioner will deposit the said amount by drawing a bank draft of Rs.3,19,632/- with 9% compound interest from the date of institution of the FIR in the name of Branch Manager, Bharat Finance Inclusion Ltd. Ithkori Branch, which will be filed along with the bail bond.