Ashok Kumar Jha v. The State Through C. B. I. Bihar, Patna

IN THE HIGH COURT OF JUDICATURE AT PATNA

Criminal Miscellaneous No.1007 of 2018 Arising Out of PS. Case No.-25 Year-2014 Thana- C.B.I CASE District- Patna ====================================================== Ashok Kumar Jha Son of Late Sadanand Jha Resident of Road No. 3 Gayatri Nagar, Munger Road, P.S. - Jamalpur, District - Munger. ... ... Petitioner/s

Versus

The State through C. B. I. Bihar, Patna.

... ... Opposite Party/s ====================================================== Appearance :

For the Petitioner/s :

Mr. Ajay Kumar Jha, Advocate : Mr. Sanjeev Kumar, Advocate For the Opposite Party/s :

Mr. Sanjay Kumar (SC, CBI) ====================================================== CORAM: HONOURABLE MR. JUSTICE S. KUMAR ORAL ORDER 06-02-2018 Heard learned counsel for the petitioner and learned counsel for the State.

The petitioner, who is in custody, seeks bail in connection with Special Case No. 01 of 2015 registered for the offence punishable under Sections 120B, 420, 471, 477A of the Indian Penal Code and Section 13(2) r/w 13(1)(d) of PC Act 1988.

The FIR was registered by the Dy. S.P. of Police/CBI/ACB, Patna against the petitioner that in the period 2010 to 2013 the petitioner was posted as Branch Manager in Punjab National Bank at Jamui Branch where he abused his official position with the help of colleagues namely Mahesh Kumar Singh, Head Cashier in connivance with their local

Patna High Court Cr.Misc. No.1007 of 2018(4) dt.06-02-2018 2/3 middle men and in pursuance of that petitioner sanctioned and disbursed the fake and fictitious loan under various schemes with malafide and common object to cheat the Bank. In pursuance of the conspiracy, even genuineness of LPC was not ensured. It has further been stated that during inquiry the total wrongful loss caused to the Jamui Branch of Punjab National Bank in terms of aforesaid loans and advanced was assessed to the tune of Rs. 12.00 crores approximately.

Learned counsel for the petitioner submitted that he is innocent and has been falsely implicated in this case. It has been further submitted that during the course of investigation though the CBI found 444 LPC were fake and forged and four borrowers are non-existent whereas Circle Officer, Laxmipur has informed that all LPC were genuine and 28 LPC were not related to his Circle and so called 4 nonexistent loanee have repaid all the loan to the Jamui Branch, Punjab National Bank in terms of aforesaid loans and advances. It has been further submitted that 28 LPC is not related with the Circle Officer, Laxmipur and petitioner being the Manager of the Bank was duty bound to sanction the loan on the recommendation of recommending Officer. It has

Patna High Court Cr.Misc. No.1007 of 2018(4) dt.06-02-2018 3/3 further been submitted that he is in custody since 14.09.2017. Considering the aforesaid facts and circumstances of the case, let the petitioner named above be released on bail upon furnishing bail bond of Rs. 10,000/- (ten thousand) with two sureties of the like amount each to the satisfaction of learned Special Judge, CBI-1, Patna, in connection with Special Case No.01/15.

(S. Kumar, J) veena/- U T