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Criminal Miscellaneous No. 2415-B of 1986, decided on 28th September, 1986.
---S. 497--Penal Code (XLV of 1860), S.409--Bail, grant of--Accused, a Bank Manager allegedly misappropriating huge sum of money by opening letters of credit at 15% margin against 25% margin-laid down by Head Office--Accused not shown to be beneficiary of alleged irregularities- Beneficiary parties not non-existent--No allegation of deriving any gain by allowing concession in depositing margin money--Question of mala fide intention of accused in granting credit facilities to parties, held, was yet to be seen and case being of further inquiry, bail was granted.
Ghaus Muhammad Chaudhry for Petitioner.
Sardar Nazar Hussain Dogar for the State.
.--This order will dispose of Bail Applications bearing Mos. 2415-B, 2416-B, 2417-B, 2418-B, 2419-B, 2420-B, 2421-B and 2422-B of 1986 moved by S.E. Manoha, former Area Manager, National Bank of Pakistan, Civil Lines Branch, Gujranwala.
2. The prosecution case in brief is that the petitioner while posted as Area Manager, National Bank of Pakistah, Civil Lines Branch, Gujranwala from April, 1975 to February, 1977 misappropriated a huge sum of money by opening letters of credit at 15% margin against the laid down margin of 25%. It is further alleged that some of the parties in whose favour the letters of credit were opened were not doing business in the jurisdiction of National Bank of Pakistan, Civil Lines Branch, Gujranwala and thus under the instructions of the Head Office were not entitled to have that facility from the said Branch of the Bank. Another allegation against the petitioner is that with his connivance and collusion some of the parties managed to get the imported good cleared directly through unapproved clearing agents instead of receiving them through the Bank after making the necessary payments.
3. He applied for bail to the Special Court (Offence against Banks), Lahore but his applications were dismissed on 14-6--1986. However, all of his co-accused are on bail.
4. Bail is urged on the grounds that the petitioner is in the judicial lock-up for the last one year and nine months and the challan has not been submitted in Court. Furthermore, that there is nothing in the F.I.R. to connect him with the alleged offence. The co-accused of the petitioner have not disowned their liability and are settling the account, it is added.
5. We have heard the learned counsel for the petitioner. The petitioner is not shown to be the direct beneficiary of the alleged irregularities: The main charge against him is of opening letters of credit at 15 margin instead of 25% margin as laid down by the Head Office. It was observed in Abdul Majid v. Judge Special Court (Offences against Banks) 1985 P Cr. L J 890 that some Managers, in order to capture the business, are liberal in the matter of granting loan or over-draft facilities to their client but it would not mean that they do so with dishonest intention. It is not the case of prosecution that the parties in whose favour the letters of credit were opened were non existent and that the petitioner had derived any monetary gain by allowing them concession in depositing the margin money. The question as to whether he had granted credit facilities to certain parties with any mala fide intention is yet to be seen.
Accordingly, considering it to be a case of further inquiry, we allow bail to the petitioner, in the sum of Rs.50,000 with two sureties in the like amount in each case to the satisfaction of Registrar, Special Court (Offences in Respect of Banks), Lahore.
S . A . Bail granted.
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