Case Facts:
Patna High Court Cr.Misc. No.27398 of 2012 (4) dt.14-09-2012 IN THE HIGH COURT OF JUDICATURE AT PATNA Criminal Miscellaneous No.27398 of 2012 ====================================================== Rudra Nand Jha .... .... Petitioner/s Versus The State Of Bihar .... .... Opposite Party/s CORAM: HONOURABLE MR. JUSTICE HEMANT KUMAR SRIVASTAVA ORAL ORDER 04/ 14.09.2012 Heard learned counsel for the petitioner as well as learned Addl. Public Prosecutor for the State. Petitioner is in jail custody since 5.1.2012 in a case registered under [STATUTE] . Petitioner is not named in the first information report and in course of investigation, it came to light that the petitioner was working as manager of Dehti PAACS in which the amounts of government scheme had been deposited violating the rules and norms of the government. The contention on behalf of the petitioner is that before the 2006, as per government scheme, PAACS were authorized to do work of nationalized banks and under the aforesaid scheme of the government, deposits were taken. But all of a sudden, all depositors started withdrawing their amounts when the government withdrew the aforesaid permission. It is further contended by him that the petitioner has been made accused in near about 30 to 35 cases and in some cases, he has already been released on bail. Considering the aforesaid facts and circumstances as well as submissions of the parties, let the petitioner, Rudra Nand Jha, be released on bail on furnishing bail bonds of Rs 10,000/- with two Patna High Court Cr.Misc. No.27398 of 2012 (4) dt.14-09-2012 sureties of the like amount each to the satisfaction of the Chief Judicial Magistrate, Araria in Araria P.S. Case no. 404/2011. Shahid (Hemant Kumar Srivastava,J)

Applicable IPC Section: 408

Statute Text:
Section 408 of the Indian Penal Code. Criminal breach of trust by a clerk or servant. Whoever, being a clerk or servant or employed as a clerk or servant, and being in any manner entrusted in such capacity with property, or with any dominion over property, commits criminal breach of trust in respect of that property, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.