NEETA SONI Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) The petitioners, who are borrowers having obtained financial assistance to the tune of Rs.2.10 Crores and Rs.1.00 Crore as term loan from the respondent Bank, have preferred this writ petition seeking a direction to register First Information Report (FIR) against the Officers of the respondent No.7 Bank, as also for staying the proceedings initiated by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act, 2002) till completion of investigation. Prayer has also been made for a direction to the Bank to supply documents to the petitioners and to unlock the property seized from the petitioners on 30/7/2016.

(2.) Petitioner No.1 is running 41 bedded hospital in the name of M/s Hari Devanta Advance Super Speciality Care, Radhika Nagar, Bhilai. They have obtained term loan of Rs.2.10 Crore on 17/10/2011 and additional term loan of Rs.1.00 Crores on 14/5/2013. For their failure to repay the loan amount, the Bank initiated proceedings under the Act, 2002. After the said initiation, the petitioners examined the matter to find that the supplier has not supplied machinery, plants and equipments, however, fraudulent payment has been made by the Bank to the suppliers by transferring the amount from the term loan account to current account. It is further averred that the Bank authorities have embezzled an amount of Rs.1.02 Crores approx., however, ignoring the petitioners' request for investigation, the Bank has proceeded under the Act, 2002.

(3.) To assess the prima facie reliability of the petitioners' submission, this Court directed the counsel for the respondent Bank, who appeared on advance notice, to produce the original record of the loan transaction.