TUNCAY ALANKUS Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) This is second petition of the petitioners under Section 439 read with Section 482 of the Code of Criminal Procedure, 1973 (for short "Cr.P.C."),, for grant of bail in case RC No.3(A)/96-ACU. I, under Sections 120--B/409/420 of Indian Penal Code (for short "IPC") and Sections 7, 11, 13(2) read with Section 13(1) (c)(d) of Prevention of Corruption Act, 1988. Their first petition (Crl.M.(M)No.1458/99), for bail was dismissed by this court on 26.5-2000. Against this order petitioner's Special Leave to Appeal (Crl.) (No.2359/2000) was dismissed by the Supreme Court on 11-8.2000. The case of the petitioners is that on 30.10.2000, while withdrawing another SLP (Cri.) in the Supreme Court against the order upholding framing of charge, they had sought permission to move the trial court for bail and that their trial has been unduly delayed, therefore, they are entitled for bail.

(2.) . Briefly stated the allegations are : that in 1995, petitioners Tuncay Alankus, Chairman & Chief Executive Officer and Cihan Karanci, Vice-President of M/s.Karsan Ltd., in conspiracy with other accused persons defrauded National Fertilizers Limited, Delhi (for short, "NFL"), to the extent of US $ 38,000,000/~ (then equivalent to Rs.133,0 crores), in the matter of supply of 2,00,000 MT of urea to the NFL @ US $ 190 PMT (Cost, Insurance and Freight basis) against 100% cash pre-payment, which was to be guaranteed by the Insurance Policy also covering M/s.Karsan"s risk of non-performance and non-delivery . They obtained 1% of the contract value of US $ 380,000 on 2.11.95, for paying premium towards the above insurance policy. The contract was signed on 9.11.95 and they were required to obtain remaining amount of US $ 37.62 million only after the submission of the said Insurance Policy. However, the petitioners in pursuance of a criminal conspiracy dishonestly submitted only a cover note dated 6..11.95 of NHK Marine. London and obtained US $ 37.62 million on 14.11.95 and the same was credited to the account of M/s.Karsan, with Pictet Bank, Geneva, Switzerland on 30.11.95. Thereafter the amount was misappropriated and shared amongst various conspirators and their associates. The said cover note dated 6.11.95, covered only marine perils and it did not counter guarantee 100% cash pre-payment and also did not cover risks of M/s.Karsan's non-performance and non-delivery. After the conspiracy was exposed and the case was registered. Petitioners were extradited to India on 3.10.1997 only after all their appeals opposing extradition were dismissed. After completion of investigation, charge-sheet was filed on 26.12.1997 against all accused persons including the petitioners; the cognizance was taken and charges against the petitioners and co-accused persons have been framed and evidence is being recorded.

(3.) . Mr.Harjinder Singh, learned counsel for the petitioners firstly argued that petitioners are innocent and have been falsely implicated. The transaction in question was nothing but a civil dispute, and even basic ingredients of the offence of conspiracy, cheating or broach of trust etc. are not made out. Petitioners had no dishonest intention and they were inclined to perform their part of the contract of supply of urea but because of climatic condition in Russia, the urea could not be despatched. Thereafter the case was registered and petitioners were arrested. Sh.R.N.Trivedi, learned Additional Solicitor General, argued to the contrary.