Co-operative Banks Granting Loans Outside Service Area Not Misappropriation Without Pecuniary Loss: Kerala High Court

The Kerala High Court has ruled that granting loans by a co-operative bank to persons residing outside its service area does not amount to criminal misconduct or misappropriation in the absence of pecuniary loss or wrongful gain. Justice A Badharudeen delivered the judgment while allowing a criminal miscellaneous petition seeking quashment of a final report pending before the Enquiry Commissioner and Special Judge, Kottayam. Background of the Allegations The case…