K. SREENIVASAN Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) The 5th accused in C.C.No.7/2011, pending before the Special Court (SPE/CBI), Thiruvananthapuram, has filed this criminal revision petition under Ss. 397 and 402 of the Code of Criminal Procedure, 1973 (hereinafter referred to as 'Cr.P.C.' for short), challenging order in Crl.M.P.No.4/2022 dtd. 22/1/2022, along with Crl.M.P.No.20/2011 passed by the learned Special Judge, thereby the plea of discharge at the option of the revision petitioner was dismissed.

(2.) Heard the learned counsel for the revision petitioner and the learned Special Public Prosecutor appearing for the CBI in detail. Perused the documents.

(3.) In this matter, the prosecution case is that, during the period between March, 2006 and August, 2006, accused Nos.1 to 5, hatched conspiracy to cheat the State Bank of India, ADB Branch, Cullan Road, Allappuzha. Pursuant to the conspiracy, accused Nos.3 and 4 approached the land owners who were in debt but having landed properties, assuring that they would purchase the landed properties. Accordingly, some advances were also paid to them after executing agreements for sale. Thereafter, they collected the original title deeds and other supporting documents from the sellers, and produced the same before the SBI, where accused Nos.1 and 2 were working, under the premise of opening accounts in their names. In continuation of the conspiracy hatched, accused Nos.1 and 2, by abusing their position as public servants, dishonestly obtained the signatures of the proposed sellers on the mortgaged loan documents and sanctioned 40 mortgaged loans and three cash credit loans amounting to Rs.4.33 Crore. The specific allegation against the 5th accused is that, in order to grant this much higher amount of loan, the 5th accused overvalued the properties to a higher sum, even though the actual value would fetch during the relevant period was much less. On this premise, the prosecution alleges commission of offences punishable under Ss. 120B and 420 of the Indian Penal Code as well as under Sec. 13(1)(d) r/w 13(2) of the Prevention of Corruption Act, 1988 (hereinafter referred to as 'PC Act, 1988' for short) by the accused.