Authority: High Court of Judicature at Patna

Order Date: 16-07-2026

Case Overview

  • Parties: Petitioner – Rajnish Mishra, son of Sunil Mishra, resident of Raghunathpur, Karakat, Gorari, Rohtas district; Opposite Party – State of Bihar; Informant – L&T Finance Limited, Purnea branch.
  • Case Numbers: Criminal Miscellaneous No.26361 of 2026; arising out of PS. Case No.‑26 Year‑2025, Thana‑Sahayak Khajanchi, District‑Purnia.
  • Allegations: The petitioner is accused under Sections 316(5) and 318(4) of the Bihar Negotiable Securities Act, 2023, for defalcating Rs 4,12,238 collected from 29 customers between 30‑Oct‑2024 and 06‑Nov‑2024. Co‑accused Sobhit Kumar Jha allegedly defalcated Rs 4,50,504 from 31 customers between 30‑Oct‑2024 and 05‑Nov‑2024.
  • Procedure Described: Field Collection Officers were required to collect monthly instalments, issue computerized receipts, deposit amounts virtually via the “Break‑App”, generate an ID, disclose it at Airtel Payment Bank, obtain a bank receipt, forward it to the Branch Manager via WhatsApp, and upload it to Break‑App for approval within 48 hours. Failure to approve would close the Break‑App.
  • Informant’s Report: The First Information Report (FIR) states that the petitioner and co‑accused collected cash but submitted fabricated deposit slips, causing loss to L&T Finance Limited.
  • Petitioner’s Defence: Claims clean antecedent, argues that the amount shown includes duplicate entries (same LAN/receipt number and amount for a person named Rajdev Mehta), and is ready to repay the alleged amount in nine equal instalments, with the first instalment of Rs 50,000 on or before 10‑Aug‑2026.
  • Co‑accused Status: Sobhit Kumar Jha was apprehended, later released on bail after depositing the defalcated amount.

Final Outcome

  • The Court acknowledges the allegation of Rs 4,12,238 defalcation against the petitioner and accepts his willingness to repay.
  • Provisional bail is granted, subject to a bail bond of Rs 10,000 with two sureties of equal amount, to be furnished to the Judicial Magistrate, Purnea.
  • Conditions of bail include:
  • Deposit of Rs 50,000 as the first instalment on or before 10‑Aug‑2026.
  • Payment of the remaining amount in eight equal monthly instalments thereafter.
  • The petitioner must visit the L&T Finance Limited, Purnea branch for account reconciliation; any discrepancy in the calculation (duplicate entries) must be pointed out to the Branch Manager for correction.
  • The court may verify the petitioner’s criminal antecedent; concealment will lead to cancellation of the bail bond.
  • Bail will be confirmed by the concerned court only after full repayment and reconciliation of the account.
  • The order is final and binding; parties have agreed not to raise further grievances regarding its contents.

Topics: Criminal Bail, Financial Fraud