Kozhikode PNB scam: Court dismisses anticipatory bail plea of former manager

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PNB, accused Rigil | Photo: Screengrab, Mathrubhumi News

Kozhikode: A court in Kozhikode dismissed the anticipatory bail plea of MP Rigil, a former senior manager of Punjab National Bank, facing accusations of embezzling crores from the bank accounts of Kozhikode corporation and individuals. His bail plea was dismissed by the Kozhikode Principal Sessions Court on Thursday.

Rigil, the former senior manager of PNB's Kozhikode link road branch, was accused of misappropriating Rs 12.6 crore from seven accounts of Kozhikode Corporation. After the scam came out, PNB returned Rs 2 crore to the Corporation. The auditing at the bank also revealed a misappropriation of Rs 21.29 crores.

Meanwhile, the police issued a lookout notice to arrest Rigil, who absconded soon after the incident came out. The Crime Branch unit probing the incident searched his house, PNB branches in link road and Ernahipalam, and the Corporation office. Authorities also seized pen drives and a laptop from his house.

Rigil has withdrawn Rs 12.68 crore from the bank. He lost around Rs 10 crore by investing in the stock market. It is learnt that he also used the money to play rummy and for some financial dealings.

Meanwhile, the police are yet to nab the accused despite days after a nationalised bank lost around Rs 12.68 crores, in addition to the misappropriation worth Rs 21 crores.

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