SC Acquits Ex-Indian Bank Manager in Fraud Case, Slams CBI
Case Title: V. Balakrishnan Versus State
Case No.: Criminal Appeal No. 2460 of 2026
Coram: Justice J.B. Pardiwala and Justice K. Vinod Chandran
Court Observation
“The CBI has failed miserably in not only proving its case but also in framing the case.”
“…we are concerned as to how the Indian Bank kept the excess money in auction received by them, without disbursal to the legal heirs, even if the predecessors-in-interest were arrayed as accused in this case….”
“Having found the case to be fully fabricated, we call for a report from the Branch Manager, Indian Bank, Anna Nagar Branch, who is impleaded herein as a respondent with regard to the loan accounts which are the subject matter of this case booked by the CBI and the satisfaction of the same as also utilisation of the money received on auction sale of the mortgaged properties.”
“A2 is said to have purchased a number of properties or acted as a middleman, in the name of A4 and A5 or by himself, but that does not prove the prosecution case as against A1…A4 & A5 were domestic helps of A2, that the loans sanctioned were in fact appropriated by A2, that the mortgaged properties were overvalued, that A1 sanctioned the loans illegally are all just figments of imagination. The CBI has failed miserably in not only proving its case but also in framing the case,”
“We find absolutely no reason to sustain the conviction of the accused and set aside both the orders of the Trial Court and the High Court. The accused, if in custody, shall be released forthwith, if not required in any other case and if the accused is already released on bail, the bail bonds shall stand cancelled.”
