SUDHIR KUMAR KAD Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) Leave granted.

(2.) Heard Mr. Vikas Singh, learned senior counsel appearing on behalf of the appellants and Ms. Aishwarya Bhati, learned Additional Solicitor General appearing on behalf of the Central Bureau of Investigation (CBI), the investigating agency.

(3.) The appellants before us, Sudhir Kumar Kad and Dinesh Kumar are accused in a case of embezzlement of about Rs. 4 Crores. The substance of the allegation so far as the subject case is concerned is that these two accused persons as the Branch Manager and the Chief Manager of Punjab National Bank, Kanthal Branch, Ujjain, participated in the process of extending cash credit facility to a firm which did not have at that point of time adequate asset coverage as safeguard against default, which would have justified grant of cash credit facility.