Mangaluru: IOB illegal funds transfer case - accused secures anticipatory bail

Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Aug 8: The second district additional court here, through an order, granted anticipatory bail to a person who was accused of illegal transfer of funds out of Rs 55 crore deposited by state-owned Karnataka Rural Infrastructure Development Ltd (KRIDL) at Kulai branch of Indian Overseas Bank.

The accused who got anticipatory bail in this case is Manunbola from West Bengal.

KRIDL had invested in fixed deposits with Indian Overseas Bank's Kulai branch a sum of Rs 55 crore. Officials of the bank, Sherin Madhuudan and Senthil Kumar have been accused of opening a fake current account at the said branch through which the fixed deposit of KRIDL was transferred to various accounts. On the basis of a complaint filed by KRIDL at Suratkal police station, the police had registered a case and arrested several of the accused. The government had transferred the case to the criminal investigation department. A person named Manubola was also questioned by the police about his possible role in the crime.

Manubola, in his anticipatory bail application in the district court said that the police are trying to fix him in a false case. The court which upheld the petition, granted him anticipatory bail on August 6. Advocate Manohar Vitla, appeared on behalf of the petitioner.