Case Facts:
IN THE HIGH COURT OF JUDICATURE AT PATNA Criminal Miscellaneous No.29358 of 2011 Rudra Nand Jha, S/o Late Sukhdev Jha, resident of village-Dehti, P.S. Palasi, District-Araria Versus The State of Bihar ---------------------------------- 03. 03.01.2012 Heard learned counsel for the parties. The petitioner is in custody in connection with Palasi P.S. Case No. 30 of 2009 for offence punishable under [STATUTE] . The petitioner happens to be the Manager of Dehti Primary Agricultural Cooperative Society Bank. The allegation against the petitioner as set out in the F.I.R. charges him of not distributing the loans and which shows an intent of misappropriation of the funds allotted for distribution of loans. Learned counsel for the petitioner, with reference to the F.I.R., submits that on mere allegation of not distributing the funds, a presumption has been drawn that the petitioner intends to misappropriate the same. He submits that the allegation is not correct as the petitioner in the capacity of the Manager of the Bank has initiated several proceedings for recovery of the loan given to the lonees and which has also led to substantial recovery. Regard being had to the circumstances and the submissions of learned counsel, let the petitioner Rudra Nand Jha be released on bail on furnishing bail bonds of Rs. 10,000/- (rupees ten thousand) with two sureties of the like amount each to the satisfaction of learned Chief Judicial Magistrate, Araria in connection with Palasi P.S. Case No. 30 of 2009. S.Sb/- (Jyoti Saran, J.)

Applicable IPC Section: 409

Statute Text:
Section 409 of the Indian Penal Code. Criminal breach of trust by public servant or by banker, merchant or agent, etc. Whoever, being in any manner entrusted with property, or with any dominion over property in his capacity of a public servant or in the way of his business as a banker, merchant, factor, broker, attorney or agent, commits criminal breach of trust in respect of that property, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.