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In this bail petition, Ramakrishna's counsel had argued connected the ground of Section 479(1) of the Bharatiya Nagrik Suraksha Sanhita (BNSS) that deals with the maximum play for undertrial detention. (Express Photo: Darshan Devaiah BP/File)
The Karnataka High Court has refused to assistance bail to K Ramakrishna, laminitis of the Sri Guru Raghavendra Cooperative Bank successful Basavanagudi, for the 3rd clip successful a wealth laundering lawsuit regarding the misappropriation of hundreds of crores of rupees. The bid was passed connected November 23 by a seat comprising Justice H P Sandesh and was made disposable recently.
Ramakrishna was arrested successful 2022 for his alleged relation successful the fraud of Rs 1,553 crore involving the instauration of fictitious documents and persons to disburse loans. It was besides alleged that retired of this, a sum of Rs 928 crore had been disbursed to 24 people.
The latest effort for bail was rejected connected an entreaty by the Supreme Court. The Indian Express had antecedently reported connected the standard of the alleged fraud.
In this bail petition, Ramakrishna’s counsel had argued connected the ground of Section 479(1) of the Bharatiya Nagrik Suraksha Sanhita (BNSS) that deals with the maximum play for undertrial detention. It was argued that contempt a detention of 2 years and 7 months, the proceedings had not yet commenced.
The counsel of other enactment argued against the bail based connected the scale of the alleged fraud, portion besides pointing retired that determination were 2 cases nether Prevention of Money Laundering Act (PMLA) and by the Enforcement Directorate (ED). Hence since determination were antithetic trials, that conception of the BNSS would not beryllium applicable, the lawyer said.
The seat observed that erstwhile the offences are antithetic arsenic good arsenic erstwhile much cases are registered against the petitioner, helium cannot invoke the proviso nether Section 479 of BNSS seeking alleviation connected the crushed of one-third punishment.
“The tribunal has to instrumentality enactment of the gravity of the offence and aggregate cases against the petitioner and much than Rs 1,544 crore fraud has been committed, that excessively this petitioner being a laminitis president of the said bank,” the seat said.
The tribunal pointed retired that erstwhile 1 is facing an enquiry oregon proceedings successful much than 1 offence oregon successful aggregate cases pending against a person, past the tribunal cannot assistance bail to that idiosyncratic nether Section 479 of BNSS.
“It is important to enactment that the 2nd proviso to Section 479(1) of BNSS empowers the tribunal to bid the continued detention of a idiosyncratic for a play longer than 1 fractional of the period. All the provisions person to beryllium work 9
conjointly,” the tribunal said.
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