In Brief
Two bank officers—a Branch Manager and Chief Manager of Punjab National Bank—were accused of embezzlement involving Rs. 4 crores in improper extension of cash credit facilities without adequate asset coverage. After fifteen months in custody with no significant trial progress beyond charge-framing, the Supreme Court granted them bail. The Court emphasized that investigation was complete, the accused cooperated with investigators, and trial stagnation weighed heavily. The Court imposed strict conditions: passport confiscation, residence restrictions to Ujjain district, regular court attendance, and prohibition on witness contact, with scope for the trial judge to impose additional safeguards."
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