C B I Vs. V K BHUTIANI

JUDGEMENT

(1.) The Appellant-Central Bureau of Investigation has come up in this appeal against the order dated 20.4.2005 passed by the High Court of Delhi in Criminal Revision Petition No. 945 of 2003. In that Revision Petition, V.K. Bhutiani (respondent herein) had challenged the order on charge dated 23.8.2003 passed by the Special Judge, Delhi. Those charges are as under:

(2.) The Revision Petition was basically on the ground that the Respondent, who was a Senior Manager of the New Bank of India at the relevant time was in fact exonerated by the Central Vigilance Commission and in its report, he was found to be innocent. The charges, which we have quoted above, were extremely serious and included also the charge of conspiracy with a view to defraud the bank. In the process, it is apparent from the charge that the Respondent along with other co-accused had entered into a criminal conspiracy to defraud the bank by granting the loans which should never have been granted. The allegation is regarding the securities which have been accepted against those loans were worthless. It has also come on record that the loans were never repaid.

(3.) The High Court in its judgment has basically relied upon the report of the Central Vigilance Commission and also relied on the ruling of this Court in P.S. Rajya v. State of Bihar, 1996 9 SCC 1.