MANINDER SINGH Vs. C.B.I

JUDGEMENT

(1.) THIS petition seeks the quashing of the criminal proceedings emanating from RC No.3/1987 under Sections 420,467,468,471, read with 120B IPC including the charge sheet and all proceedings consequent thereto.

(2.) THE aforementioned criminal case was got registered by the Central Bureau of Investigation ('CBI') on 28th August 1987 on the written complaint of the Chief Vigilance Officer of the New Bank of India (presently 'Punjab National Bank'). The allegation was that the Petitioner as proprietor of M/s. Rooney Exports, Agar Nagar, Ludhiana along with certain other co-accused obtained advances from the IBD cell of the New Bank of India in Ludhiana in November and December 1986 to the extent of Rs. 5.31 lakhs. It is stated that the advances were realized on the strength of certain bills which later on turned out to be forged. Cash incentive advance, which was usually allowed after the shipments were made, was allowed at the first instance though the borrowers including the Petitioner were not entitled for such advance. The Petitioner and the other co- accused were charged with entering into a criminal conspiracy to cheat the New Bank of India to the tune of Rs. 10.62 lakhs.

(3.) THE order dated 4th March 2008 passed by this Court records the submission of learned counsel for the Petitioner as follows: