CHANDRAKANTH RAMALINGAM Vs. STATE

JUDGEMENT

(1.) Heard the learned Senior Counsel appearing for the petitioner-accused and the learned Special Public Prosecutor appearing for the respondent-C.B.I. The respondent-C.B.I. registered FIR in R.C. No. 23(A)/2016 against named seven accused and others in respect of the offence punishable under Section 120-B read with Sections 420, 406, 409, 468, 471 and 477-A of Indian Penal Code, 1860 and Section 13(2) read with Section 13(1)(c) and 13(1)(d) of Prevention of Corruption Act, 1988. The petitioner is arraigned as A6.

(2.) The pith of the allegation is, during a raid by the Income Tax Authorities, the petitioner was found in possession of new currency notes to the tune of Rs. 46 lakhs. At the same time, raid conducted by the Income Tax Authorities at the residence of A3, A4 and A5 also revealed possession of excess new currency notes in their possession. Al and A2 are the Managers of the Banks who allegedly facilitated other accused persons with the new currency notes much against the norms and guidelines of the Reserve Bank of India, they were to follow and were obliged to disburse the amount through A.T.M. to the Account holders.

(3.) As of now, the position is, A3 who had filed a petition under Section 482 of Criminal Procedure Code, 1973 to quash the complaint against him, on the assurance given by the respondent not to arrest him in view of his exigency to arrange for the marriage of his daughter, is out of apprehension of arrest.