HC dismisses plea by Manappuram Finance MD&CEO to quash CBI notice

The CBI in Madurai had issued the notice to the private finance company official to cooperate in the investigation into the case of gold jewellery missing from Punjab National Bank, Pudukkottai Branch, in 2019

The Madurai Bench of the Madras High Court has dismissed a petition filed by Managing Director and CEO of Manappuram Finance V.P. Nandakumar who sought quashing of a notice issued by the Central Bureau of Investigation (CBI).

The investigating agency had issued the notice under Section 41(A) of the Code of Criminal Procedure directing Mr. Nandakumar to appear before the CBI in Madurai to cooperate in the investigation into the case of gold jewellery missing from Punjab National Bank (PNB), Pudukkottai Branch, in 2019.

An Office Assistant with PNB, S. Marimuthu, was a suspect in the case. He had allegedly looted the jewellery pledged by the bank customers. It was said that more than 14 kg gold jewellery, valued at around ₹4.80 crore, were reported missing from the bank. It was said that the gold jewellery were pledged by Marimuthu with Manappuram Finance, Pudukkottai Branch. Thereafter, the jewellery were neither redeemed nor claimed.

The PNB authorities said Marimuthu stole the gold jewellery and pledged them in Manappuram Finance. They lodged a police complaint and a case was registered. A communication was sent to Manappuram Finance, Pudukkottai Branch, informing them of the registration of the case. But, Manappuram Finance auctioned the jewellery pledged by Marimuthu.

Under these circumstances, PNB filed a petition in 2022 before the High Court seeking a CBI probe into missing of jewellery. The court in 2024, ordered a CBI probe. After a case was registered, the CBI issued the notice to the petitioner. This was challenged.

Justice K.K. Ramakrishnan observed that once the notice was issued against a person under Section 41(A) of the Cr.P.C., the person, irrespective of his position, had to appear before the investigating officer. The notice was issued to cooperate with the investigation based on the materials collected by the investigating agency as well as the local investigating agency.

The court refused to accept the contention of the petitioner that he could not travel to Madurai from Thrissur due to health issues. The CBI’s office was situated in Madurai, which had airport facilities, and hence there was no impediment to appear at the office, the court said, and dismissed the petition.

Published - November 07, 2024 08:48 pm IST