NIKHIL MERCHANT Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) Leave granted.

(2.) The Central Bureau of Investigation (hereinafter referred to as "CBI") filed a charge sheet against five accused persons under Section 120B read with Sections 420, 467, 468, 471A Indian Penal Code read with Sections 5(2) and 5(1)(d) of the Prevention of Corruption Act, 1947 and Section 13(2) read with Section 13(l)(d) of the Prevention of Corruption Act, 1988. In the said charge sheet, the appellant herein was made accused No.3 and the Company, in respect of which he was the former Managing Director, M/s. Neemuch Emballage Ltd., Mumbai, was made the accused No.4. The other three accused are officials of the Andhra Bank.

(3.) Accused 4, the Company was granted financial assistance by the Andhra Bank, Opera House Branch under various facilities. On account of default in repayment of the loans, the Bank filed a suit for recovery of the amount payable and in addition, on 19th December, 1995, a complaint was made by the General Manager and the Chief Vigilance Officer of the Bank on the basis whereof investigations were undertaken by the CBI, which filed the above-mentioned charge sheet in the Court of the Special Judge on 30th December, 1998. The allegations under the charge sheet indicate that the accused persons conspired with each other in fraudulently diverting the funds of the Andhra Bank. Offences alleging forgery were also included in the charge sheet.