R Venkitachalam v. State Rep By

and Crl.M.P.No.2514 of 2024 C.V.KARTHIKEYAN, J.

The petitioner who apprehends arrest at the hands of the respondent police for the offences punishable under Section 408,420,477A and 120B of I.P.C in Crime No.01 of 2024, seeks anticipatory bail.

2. The defacto complainant company is a logistics company. A1 had been working as a operation manager. The present petitioner/A3 is a former employee. It is stated that A1 would prepare a excel sheet and there would be details about the monetary transactions. It is stated that any amount to be paid should be routed from the company fund. It is stated that this petitioner who had access to the excel sheet prepared by A1, taking advantage that he is a former employee had diverted funds to 69 account holders to the tune of Rs. 2.40 crores. It is thus seen that though business was carried out by the defacto complainant corresponding income was not received but the amounts received had been diverted to the 69 account holders directly.

3. The learned counsel for the petitioner stated that so far as the four accounts have been identified and the amount involved is only Rs.20,00,000/-.

4. The learned Government(Crl side) stated that the investigation has not been completed and some of the co-accused are still absconding.

5. In view of the above facts it is seen that there is an element of funds being diversified to third parties. Hence, this Court is not inclined to grant anticipatory bail to the petitioner. Hence this petition is dismissed. Consequently the connected miscellaneous petition is closed. 16.02.2024 smn C.V.KARTHIKEYAN, J.

smn

and Crl.M.P.No.2514 of 2024 16.02.2024