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The bank in question was a co-operative bank located at a remote Taluka in Maharashtra. The customers were small shop keepers and local villagers who had very meagre income. The accused took advantage of such situation and siphoned their money.
“Investigation cannot be permitted to linger on for years, keeping the investors in the lurch, not knowing what is the outcome of the case.”
“In the CID raid, it was discovered that Bhupendrasinh had created several firms and opened bank accounts in their names, but only two of the firms were registered. He had also issued cheques worth Rs 62 Lakhs in the name of his driver.”
The Court referred to Niranjan Singh v. Prabhakar Rajaram Kharote (1980) 2 SCC 559, wherein it was explained that no lexical dexterity nor precedential profusion is needed to come to the realistic conclusion that he who is under the control of the court or is in the physical hold of an officer with coercive power is in custody for the purpose of Section 439, CrPC.
