Authority: Madras High Court, Bench of Hon'ble Mr. Justice N. Ramesh
Order Date: 05-11-2026
Case Overview
- Petitioner: Purushothaman S/o Devarajan, former Senior Branch Manager, Punjab National Bank, Taylors Road Branch, Chennai.
- Respondent: State represented by Inspector of Police CCB 1 (Bank Fraud), Vepery, Chennai; Crime No. 119/2026.
- Allegations: During petitioner’s tenure, genuine gold ornaments pledged in 24 gold‑loan accounts (total weight 2,137.800 g) were allegedly replaced with spurious ornaments, causing loss to the bank. Offences under Sections 61(2), 316(5), 336(3) and 340(2) of the Bharatiya Nagarik Suraksha Sanhita, 2023.
- Investigation findings: 289.700 g gold recovered from petitioner, 426 g from co‑accused Sunitha, 63 g from petitioner again, totalling 778.700 g; 1,359.700 g still missing.
- Co‑accused A2 and A3 have already been released on bail in related petitions (Crl.OP.Nos.31712 & 30359 of 2026).
- Petitioner's counsel argued innocence and lack of access to vault; prosecution argued necessity of custodial interrogation to recover remaining gold.
Final Outcome
- Bail granted subject to a bond of Rs 25,000 with two sureties of equal amount, to be approved by the XXXI Metropolitan Magistrate, Additional Court for Exclusive Trial of CCB Cases, Egmore.
- Conditions: (a) Sureties to affix photographs and left thumb impressions; (b) Petitioner to report daily before respondent police at 10:30 a.m.; (c) No absconding; (d) No tampering with evidence or witnesses; (e) Breach may lead to revocation of bail and possible fresh FIR under Section 269 B.N.S.
Topics: Criminal Bail, Bank Fraud