Karuvannur Bank fraud: Supreme Court dismisses anticipatory bail plea of seven accused

New Delhi: The Supreme Court has dismissed the anticipatory bail plea filed by seven accused in a case registered in connection with the Karuvannur Cooperative Bank fraud. The petitioners had approached the Supreme Court seeking anticipatory bail as they were members of the bank’s board of directors between 2001 and 2011. The Bench headed by Justice A Amanullah rejected the plea.

The petitioners argued that during their tenure no financial loss was caused to depositors and that they had not intervened in any policy-related matters. However, the Court clarified that anticipatory bail could not be granted. The investigation agency had submitted the role of the petitioners in the case before the Court.