Ahmedabad: Gujarat High Court denied bail to a former cash officer of State Bank of India (SBI), Bangmoy Chakravarti, accused of siphoning off Rs 1.9 crore which he was supposed to deposit in various ATMs and CDMs in Rajpipla.Bangmoy was arrested in Nov 2025 after the alleged scam was busted. According to the prosecution’s case, Chakravarti was employed with SBI’s Rajpipla branch in Narmada district. He received Rs 1.9 crore from the bank to deposit in various ATMs and CDMs at Rajpipla. However, he did not deposit the amount and kept it in his own custody, siphoned off the entire amount and made false documents in the bank system to avoid detection. He was charged with criminal breach of trust, and during the investigation the charges of corruption were also invoked against him.When he sought bail, the prosecution opposed it and submitted that he was involved in a serious offence involving public money. He misused his admin-card and manipulated the bank’s computer system by showing an excess balance in the ATM systems. By adopting such a modus operandi, he siphoned off Rs 1.9 crore. He allegedly diverted the amount to various bank accounts belonging to witnesses who are stated to be his relatives residing in Uttar Pradesh, Bihar and Jharkhand.Justice H D Suthar rejected the bail plea and said, “Having regard to the nature and gravity of the offence, the magnitude of the alleged fraud, the stage of investigation, and the possibility of interference with the investigation, this court is not inclined to exercise its discretion in favour of the applicant.”HC further said, “Since the offence is in the nature of a white-collar and socio-economic offence, this court is not inclined to grant bail to the accused. The offence appears to have been committed in a well-planned and systematic manner. It is not merely an offence against an individual entity, but one affecting society at large and public welfare. Therefore, a delicate balance is required to be maintained between the personal liberty of the accused and the larger societal interest.”On the type of the alleged crime, the court said, “White-collar crimes adversely affect the national economy and national interest. Such offences, involving deep-rooted conspiracy and huge financial loss, are required to be viewed seriously and examined differently. This is not a case where the applicant has been arraigned merely on the basis of statements of co-accused or suspicion; rather sufficient material has been collected against the applicant during the investigation.”
