V.K. MAHESHWARI Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) By way of the present petition filed under Sec. 482 read with Sec. 397 of the Code of Criminal Procedure, 1973 (hereinafter to be referred as 'Cr.P.C.'), petitioner seeks directions thereby setting aside the order dated 29.11.2012 passed by the ld. Trial Court whereby charge under Ss. 120B/409 of the Indian Penal Code, 1860 (hereinafter to be referred as 'IPC') read with Sec. 13 (1) (d) and 13 (2) of the Prevention of Corruption Act, 1988 (hereinafter to be referred as 'PC Act') have been framed against the petitioner. Consequently, Crl. Case No. 51/11 pending before the Trial Court and RC. No. 5 (E) /01 titled as CBI v/s. V.K. Maheshwari & Ors. also be quashed.

(2.) Mr. Anoop J. Bhambhahi, ld. Sr. Counsel appearing on behalf of the petitioner submitted that the aforesaid FIR was registered on 24.08.2001 and charges were framed vide order dated 29.11.2012. There were total six accused in the case, wherein petitioner is accused no.1. Accused no.2 Ratan Bagaria has been declared PO whereas proceedings against accused no.3, i.e., Rajan Bagaria have already been quashed by this Court vide order dated 29.04.2009 passed in Crl. M.C. No. 3331/2007. Accused no. 4 is Ratan Exports and Industries Ltd. (hereinafter to be referred as 'Company'). Accused no.5 Mr. M.K. Basu, posted as General Manager (Credit), United Bank of India at Head Quarter, Kolkata, had passed away and proceedings against him was abated vide order dated 01.10.2011. The FIR and proceedings thereto against accused no. 6, i.e., Kashibatla Ramakrishna, posted as Regional Manager, United Bank of India, have been quashed by this Court vide order dated 16.04.2012 passed in Crl. M.C. No. 160/2010.

(3.) Ld. Sr. Counsel further submitted that accused no. 6 Kashibatla Ramakrishna had joined the United Bank of India Delhi Branch in May, 1992, whereas the petitioner had joined the aforesaid Bank as Branch Manager on 12.08.1993. The case of prosecution as per the chargesheet dated 26.03.2004 is that business of the aforesaid Company was mainly export of Natural Bristles, Brushes and Canned Food Products to erstwhile USSR and the Company was a 100% Export Oriented Unit. The said Company was earlier granted overall credit limit of Rs. 1250 Lacs on 14.07.1988 by the Bank, which was subsequently enhanced to the tune of Rs. 1,672 Lacs by the Board of Directors of the Bank in its meeting held on 19.11.1991.