BANI ARORA Vs. C B I

JUDGEMENT

(1.) THIS is a petition under Section 482 of the Code of Criminal Procedure, 1973 ("crpc") filed by the Petitioner seeking the quashing of the FIR No. RC 42 (A)/97 DLI dated 2nd June, 1997 under Sections 120b read with Sections 420, 467 and 471 IPC and Section 13 (2) and 13 (1) (d) of Prevention of Corruption Act, 1988 (PCA 1988) registered at P. S. ACB, CBI, New Delhi and all proceedings arising therefrom pending in the court of learned Special Judge, Tis Hazari courts, Delhi.

(2.) THE allegation in the complaint on the basis of which the FIR was registered was that the co-accused Shri S. S. Wadhwa while working as Chief Manager of oriental Bank of Commerce at its Saket Branch, New Delhi during the period 1993-96 conspired with one Shri N. K. Arora with an intent to provide wrongful gain to shri N. K. Arora detrimental to the Bank"s interest. The Petitioner Smt. Bani arora, the wife of Shri N. K. Arora, is a Director of Muradabad Builder, M/s. Growgold Exim and Leasing Limited and also the proprietor of M/s. Corporate growth Management Services. It is alleged that she had acted in conspiracy with the said accused. Therefore, she has been charged with the offences mentioned including Section 13 (2) and 13 (1) (d) PCA, 1988. Consequent to the charge sheet having been filed, the trial court passed an order framing charges. The case is pending trial.

(3.) LEARNED counsel for the Petitioner first submits that since the losses suffered by the Bank have been compensated in their entirety to the Bank, the criminal proceedings should be quashed. He relies upon the orders passed by this court in Ajay Kumar v. State 2006 (2) JCC 1073, Ram Prakash v. State 2007 (1)JCC 649, Neelu Gupta v. State 2007 (3) JCC 1938 and the order dated 18th september, 2003 passed by this Court in Crl. M (M) 945 of 2002 (Naresh Chandra and Anr. v. CBI) in support of his proposition.