BINOY JACOB Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) Binoy Jacob, the petitioner, who seeks anorder from this Court for being released on bail is one of the accused in FirstInformation Report bearing No. RCA (A) 92-ACU VI dated 28/11/1992. The other named accused in the F.I.R. are V. Krishnamurthy and histwo sons K. Chandra Sandy and K. Jayakar. The case of the prosecution inbrief, is as under :

(2.) In the year 1982 V. Krishnamurthy while functioning as Vice-Chairman and Managing Director for Maruti Udyog Limited (MUL) joinedhands with Binoy Jacob, Director of M/s. Apten Marketing and ManagementServices (P) Ltd. and K. Jayakar in order to earn ill-gotten money in theform of commission from various multi-nationals in connection with the transactions held by these multi-nationals with the companies under the control and influence of V. Krishnamurthy in his capacity as a public servant. Inpursuance of the said object Binoy Jacob and K. Jayakar alongwith PremKumar set up a company on 6/07/1982 with the following shares : <FRM>JUDGEMENT_640_DLT49_1993Html1.htm</FRM>

(3.) V. Krishnamurthy while functioning as public servant participatedin the management of M/s. Apten Marketing and Management Service (P)Ltd. through his son Jayakar. V. Krishnamurthy became Chairman ofM.U.L. on 21st March 1983 and .continued to be its Chairman till 1 7/03/1985. Between 17/05/1985 and 1/04/1990 V. Krishnamurthywas part-time Chairman of M.U.L. and full time Chairman of Steel Authorityof India (SAIL). M/s. Sumitomo Corporation incorporated in Japan whilehaving official business with MUL paid commission of about Rs. 6 lakhs toM/s. Apten Marketing and Management Services (P) Ltd. Huge commissionswere also paid to M/s. Apten by various other multi-nationals with whomV. Krishnamurthy had official dealings as public servant. M/s. Apten Marketing and Management Services (P) Ltd. succeeded in obtaining commissionthrough representation agreements with multi-national companies for theirwork in India on account of official position of V. Krishnamurthy as publicservant.