LAWS(SC)-2009-8-73

R VENKATAKRISHNAN Vs. CENTRAL BUREAU OF INVESTIGATION

Decided On August 07, 2009
R.VENKATAKRISHNAN Appellant
V/S
CENTRAL BUREAU OF INVESTIGATION Respondents

JUDGEMENT

(1.) These six appeals are directed against a judgment and order dated 4th December, 2003 passed by the Special Court in Case No.2 of 1993 whereby and whereunder the appellants herein were convicted and sentenced in the following terms :-

(2.) While accused No.1, K. Margabandhu, at the relevant time, was the Chairman and Managing Director of United Commercial Bank (UCO Bank), (a public sector bank), accused No.2, Ramaiya Venkatkrishnan was the General Manager and accused No.3, S.V. Ramnathan was the Divisional Manager thereof of the Bombay Branch.

(3.) The basic allegation against the appellants and Late Harshad Mehta was that some transactions were carried out in connivance with the officials of the Financial Institutions, Banks illegally as a result whereof Late Harshad Mehta was allowed to obtain a sum of Rs.40 crores which was actually 'Call Money' given as a loan by the National Housing Bank to the UCO Bank.