Sir,
My friend is VRS optee naionalised bank officer. Now, after three years of his retirement, he has been summoned by the court under IPC 406, 420 in the case filed by the the than bank against borrowers under IPC 406,420 (when he was in-service).
When the police complaint filed by the bank against borrowers, police also summonsed the manager under Sec.160. My friend i.e. manager got anticipatory bail. Police demanded remand, court sanctioned below 48 hours...
Matter is that:
1.borrowers have argued that they were unknown and not utilised the fund of loan in their names,
2.borrowers are not denying about documents signed by them.
3.allthough, borrowers were/are repaying/repaid the loan.
4. subsidy from Govt. also has been credited to the said borrowers loan accounts
5.subsidy claimed from the Govt. by the bank's branch on the certificate issued by the branch manager that all loans disbursed are as per norms of the bank, spot visit made and assets found for which loan disbursed i.e. loan amount is used for the purpose for which demanded by the borrowers.
6.half of the borrowers (of the court case) have fully repaid the loan and accounts stands closed at this moment.
7.manager was issued chargesheet for the loans and it is closed after inquiry by penalty of cut in increments of the manager.
Please guide and also what will be the course of action by the court
