Greater Kashmir reports Jammu and Kashmir High Court has said every officer or servant employed by a Cooperative Bank is a public servant in keeping with the Ranbir Penal Code (RPC), now Indian penal Code (IPC), and Prevention of Corruption Act.
The court has rejected a plea by an employee of Bombay Mercantile Cooperative Bank arguing he could not be prosecuted under Prevention of corruption Act for not being a public servant.
A CBI probe had revealed that the petitioner had fraudulently opened bank accounts in the names of fictitious persons and allowed unauthorized excessive withdrawals causing enormous loss to the bank to the extent of more than one crore rupees.
The petitioner wanted FIR to be quashed as well as charges framed against him by the trial court.
