Sudeep Sinku Bail Denied in Rs2.14 Embezzlement

Authority: High Court of Jharkhand, Ranchi

Order Date: 08 July 2026

Parties: Petitioner Sudeep Sinku, son of Shankar Sinku, aged about 39, resident of House No. 77, Village‑Juntugara, P.O.‑Maluka, P.S.‑Jagannathpur, Dist.‑West Singhbhum, Jharkhand; Opposite Party: State of Jharkhand.
Case Details: Gua Police Station Case No.43 of 2025 (General Register No.99 of 2026).
Allegations: Embezzlement of Rs 2,14,81,192.30 from the account of Steel Authority of India Limited (SAIL), Gua, by transferring the amount to bank accounts of the petitioner’s close associates.
Statutory Provisions: Offences punishable under sections 316(2), 316(5), 318(4) and 3(5) of the Banking and Financial Services Act (B.N.S.), 2023.
Custody: Petitioner has been in judicial custody since 19‑12‑2025.
Legal Representation: For the petitioner – Mr. Anurag Kashyap and Mr. Jorong J. Sanga, Advocates; for the State – Mr. Devesh Krishna, SC Mines III.
State’s Position: The State opposed bail, emphasizing the serious nature of the alleged embezzlement of crores of rupees and the likelihood of the petitioner absconding or tampering with evidence if released.

The Court, considering the seriousness of the allegations and the risk of absconding or evidence tampering, rejected the bail application. The petitioner remains in custody.

Topics: Legal; Banking Crime