IDLI YERRISWAMY Vs. CBI

JUDGEMENT

(1.) These petitions are filed by the petitioner under Section 439 of Cr. P.C. seeking his release on bail of the alleged offences punishable under Sections 409, 420, 434, 379, 411, 447, 467, 468 and 471 read with Section 120-B of IPC and under Section 13(2) read with Section 13(1)(d) and 13(1)(c) of Prevention of Corruption Act 1988 and under Section 21 read with 4(1) and 4(1)(A) and 23 of Mines and Minerals (Development and Regulation) Act 1957 and Section 24 of Karnataka Forest Act registered in FIR in RC Nos. 13(A)/2012, 14(A)/2012 and 15(A)/2012.

(2.) Brief facts of the prosecution case as averred in Crl. P. No. 1990/2014 are that accused No. 1 M/s. Dream Logistics Company (India) Private Limited had exported iron ore from Belekeri port to foreign countries to the extent of 9.16 lakh MT., out of which, substantial portion is found to be illegally mined iron ore in forest areas of Bellary. During the course of investigation, on 3.9.2013, the petitioner accused No. 8 has been arrested with the allegation that he is the proprietor of M/s. Jambunatheshwara Minerals and the said proprietary concern had sold 19,524 MT. of iron ore to M/s. Sri. Srinivasa Minerals Trading Company. The said firm in turn had sold the said materials to accused No. 1 M/s. Dream Logistics Company (India) Private Limited. The petitioner was produced before the Special Court with remand application on 3.9.2012 and he was taken to police custody till 12.3.2013 and after police custody, he has been remanded to judicial custody. After completion of investigation, CBI filed charge sheet before the Special Court for the alleged offences under Sections 120-B read with Sections 409, 420, 434, 447, 468, 471 of IPC against the petitioner along with the other 14 accused.

(3.) It is pleaded in the petition that petitioner has not committed any offence, he is innocent and he has not indulged in illegal mining extraction in the forest area. The petitioner has contended that he is the proprietor of M/s. Jambunatheshwara Minerals which is the business concern having licence to deal iron ore. His business was only to purchase iron ore materials from the sellers and in turn, he was selling the same for higher price to the respective buyers. Accordingly, the petitioner's concern had purchased iron ore of 20,000 MT. from M/s. Srinivasa Logistics and sold the same to M/s. Sri. Srinivasa Minerals Trading Company. Regarding the said purchase, amount is credited to the account of Sri. Srinivasa Logistics Company and after this purchase, it had sold iron ore in favour of M/s. Sri. Srinivas Minerals Trading Company Limited under invoice.