Gold stolen from bank: Appraiser gets bail

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Gold stolen from bank: Appraiser gets bail
TNN | Nov 2, 2020, 04:24 IST
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Madurai: Madras high court has granted bail to a man accused of stealing 2,346gm of gold jewellery pledged by customers of a bank in Ramanathapuram district. The court was hearing the bail petition filed by Manikandan who was arrested by Ramanathapuram district crime branch on September 9.
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The prosecution said the petitioner was working as a jewellery appraiser on contract at the Manjur branch of Canara Bank. On August 21, when a depositor withdrew the jewellery that he pledged at the bank, it was found that one item was missing. When the bank authorities verified the jewellery, it was found that gold articles weighing 2,346.09g were stolen by the petitioner from gold loan accounts.
The petitioner submitted through his counsel that a false case had been registered against him. Since he was a jewellery appraiser, he could not have been involved in the misappropriation without the help of bank officials. It was only to escape from the case that other officials gave a complaint against him.
The government lawyer submitted that based on the petitioner’s confession, police had recovered 1784.4g of jewellery but the remaining 522.5g of jewellery was yet to be recovered. He also submitted that the assistant manager of the bank failed to verify the pledged jewellery in the locker and was suspended from service. Since the investigation is continuing, he strongly objected to granting bail to the petitioner.
Taking cognizance of the petitioner’s submission that he is ready to deposit a substantial amount for jewellery items which are yet to be recovered, Justice G K Ilanthiraiyan granted bail to him on condition that he deposit Rs 10 lakh before the Ramanathapuram judicial magistrate II court.