Financial Software & Systems (FSS) has prevailed before the Supreme Court of India in a bail matter involving the siphoning of money from automated teller machines (ATMs).
The court rejected a special leave petition (SLP) filed by Pawan Kumar Gupta, a principal shareholder and whole time director of RCI Cash Management, a company to which FSS had outsourced the task of replenishing ATMs with currency notes belonging to State Bank of India and other nationalized banks.
Gupta and his employees were alleged to have siphoned off ₹23.5 million (US$345,000) from ATMs across India in June 2016. Gupta filed the SLP after Telengana High Court reversed an order granting him anticipatory bail after his first bail application was rejected.
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