The alleged embezzlement had taken place at the bank’s Wardha and Hinganghat branches.
The bank, which is a competent authority, had allowed prosecution of its Wardha branch manager HD Meshram, senior manager at regional office VVS Murthy, deputy general manager V Ramanandham Garre and Hinganghat branch manager SJ Khapekar. However, the bank refused permission to prosecute three other officers, who were also named as accused in the case. This was informed to the HC by senior counsel Sunil Manohar and SN Kumar, who pleaded for the Reserve Bank of India (RBI).
A division bench comprising Justice Vinay Deshpande and Justice Amit Borkar, on September 8, had directed amicus curiae Rajnish Vyas to examine the issue of refusal of sanction to prosecute three bank officials and directed him to make proper submissions.
Accordingly, Vyas submitted that on prima facie consideration of the material, he is satisfied that the bank was justified in refusing sanction against these officials and, therefore, the petition can be disposed of.
Vyas, however, submitted that during the course of inquiry or trial, if special judge is of the opinion that there is some evidence pointing out complicity of some other persons, he may be directed to invoke…