HARISH JAIN Vs. STATE

JUDGEMENT

(1.) This is a petition tinder Section 438 of the Code of Criminal Procedure for grant of bail to the petitioners in anticipation of arrest. According to the first information report the petitioners alongwith some senior officers of the erstwhile New Bank of India,Tolstoy Marg, New Delhi (now merged with the Punjab National Bank) and the Corporation Bank, Connaught Circus, New Delhi entered into criminal conspiracy to cheat New Bank of India. The incident relates to the year 1983. Some of the relevant portions of the FIR run as under:-

(2.) In pursuance of the aforesaid criminal conspiracy ten bills of exchange for Rs-26,83,206.80 were drawn on a fictitious firm M/s Pneumatic Hydraulic Industries, 11 Jaya Mahal, A Road, Churchgate, Bombay which was concern of S/Shri A.C. Jain, S.C.Jain and Harish Jain. In all these bills of exchange with dishonest intention after the word Churchgate, Bombay the words 'a Unit of Hindustan Monark Pvt. .Ltd.' was added which was dishonestly certified by Shri B.D. Dhawan although no such addition exists in the office copies of those bills of exchange. These additions were made to get the credit in the account of M/s.Hindustan Monark Pvt.Ltd. which was having a account with Corporation Bank, Connaught Circus, New Delhi.

(3.) Similarly another 10 bills of exchange for Rs-37,85,8886.17 were drawn in favour of M/s Eastern Machinery Corpn. of Bombay. However, additions were made ' a unit of Hindustan Monark Pvt.Ltd.' This was again done with a view to get credit of this amount to the account of M/s Hindustan Monark (P) Ltd. in Connaught Circus Branch of Corporation Bank, New Delhi.