(1.) This is an application for anticipatory bail under Section 438 of the Code of Criminal Procedure (for short "the Code") filed by Smt. Sudarshan Kochar and Shri Naresh Kumar, wife and son respectively of late Shri C.L. Kochar. Their similar application was rejected by the learned Additional Sessions Judge.
(2.) On the basis of source information that Shri S.J.S. Chawla, Branch Manager, Punjab & Sind Bank, Chandni Chowk, Delhi in conspiracy with Smt. Sudarshan Kochar and Naresh Kochar proprietor of M/s. Narain Dass Agency had caused loss to the Bank to the extent of Rs. 22 lakhs by fraudulent means, a case No. RC-DA-1-1998-A-0017 under Section 120-B read with Sections 467, 468, 471 of the Indian Penal Code and Sections 13(1)(b) read with Section 13(2) of the Prevention of Corruption Act was registered and investigation taken up.
(3.) During investigtion made it has been noticed that late Shri C.L. Kochar, husband and father respectively of petitioners No. 1 and 2 was doing business under the name and style of "M/s. Narain Dass Agency" and had current account No. 140 with Punjab & Sind Bank, Chandni Chowk Branch, Delhi and in that account he was availing cash credit facility to the extent of Rs. 10 lakhs. The said Shri C.L. Kochar died on 9.2.1992 and on the request of his wife Smt. Sudershan Kochar, petitioner, the said bank limit and his liabilities therein were transferred in her name on 9.2.1993. Smt. Kochar had also opened current account No. 1042 with the said bank.