CENTRAL BUREAU OF INVESTIGTATION Vs. ASHOK KUMAR RAHEJA

JUDGEMENT

(1.) Petition filed under Sec. 482 of the Code of Criminal Procedure, has been filed on behalf of the Petitioner CBI seeking setting aside of Order dtd. 9/4/2021 of the learned Special Judge (PC Act) (CBI) - 02 Delhi, whereby the Petitioner/CBI had been directed to provide a copy of the Request Letter issued to the Complainant Bank seeking sanction for prosecution of the Respondent and also to provide draft Sanction Letter if supplied by CBI to the Complainant Bank, while seeking sanction to prosecute the Respondent (accused).

(2.) Briefly stated, case RCBD12015E0006/CBI/BS&FC/DLI was registered against Respondent on 19/5/2015, on the basis of written Complaint dtd. 27/4/2015 received from Mr. D.C. Kar, Regional Manager, Indian Overseas Bank, Regional Office, Chandigarh. As per the allegations in the Complaint, during the period 2008 onwards, M/s Green Valley Plywood Ltd., Mr. Jagmohan Kejriwal, Chairman & Managing Director, Mrs. Anju Kejriwal, the then Director, M/s G.R. Bansal & Co. through its Partner Mr. G.R. Bansal, and other unknown public servants of Bhiwani Stand, Rohtak Branch and Connaught Place Branch of Indian Overseas Bank, and others, cheated the Complainant Bank to the tune of Rs.71.79 crores on the basis of forged 86 LCs worth Rs.70.49 crores, which were got opened by M/s Green Valley Plywood Ltd. and other forged supporting documents; through fraudulent transactions and by furnishing fake Invoices purportedly in the name of supplier Firms. The borrowers defrauded the Bank with dishonest intention to siphon off the public fund for the purpose other than for which it was sanctioned. The Company indulged in fraud and fabrication of proforma Invoices of various non-genuine Suppliers. The LCs were got issued by the borrower on the basis of forged documents which were subsequently not paid, which caused wrongful loss to the complainant Bank to the tune of Rs.71.79 Crores and corresponding wrongful gain to themselves.

(3.) The allegations against the Respondent Ashok Kumar Raheja, the then Chief Manager and Branch Head of Indian Overseas Bank, Rohtak Branch, was that during the period from September, 2010 to February 2012, he deliberately did not perform his duties diligently. Being the Branch Head, it was imperative on his part to ensure that the officials in the Credit Department adhered to the Policy of the Bank while issuing the Letters of credit, on the request of M/s Green Valley Plywood Ltd. During the relevant period, LCs worth Rs.66,84,39,913.00 (Rs.67.00 crores approx), were issued by the Branch which got devolved and caused wrongful loss to the Bank and consequent wrongful gain to the co-accused persons. Respondent deliberately failed to ensure the adherence of prescribed rules/procedures/ terms and conditions of the sanction before issuing acceptance of LC documents to the negotiating Bank and thereby, facilitated the accused to defraud the Bank.