JAGDISHBHAI KARAMSHIBHAI BODRA Vs. STATE OF GUJARAT

JUDGEMENT

(1.) This application is filed under Section 439 of the Code of CriminalProcedure, 1973 (hereinafter referred to as the Code ) for enlarging the applicant on regular bail in connection with the FIR being C.R.No.I-57 of 2016 registeredwith Katargam Police Station, District Surat for the offence punishable under Sections 406 , 420 , 465 , 467 , 468 , 471 and 120B of the India

(2.) It is mainly alleged in the FIR as under: That in the year 2011, when the applicant was one of the Directors of R.J.Square Link Pvt. Ltd., i.e. the company of complainant, he has taken loan worth Rs.117 crores from the State Bank of India, Bank of Baroda and Bank of India for his own business by showing the company of the complainant as guarantor without the knowledge and permission of the complainant. Moreover, an illegal resolution is passed by forging the letter pad of the company and rubber stamp of the complainant, whereby it is resolved that applicant is authorized to sign the documents of loan. The said resolution is produced before the concerned Banks without the permission and knowledge of the complainant and other Directors of the company. The applicant has also forged the seal of the company which is used in various loan documents and thereby, applicant has obtained loan of Rs.117 crores from the aforesaid banks. Thus, the applicant has committed offence punishable under Sections 406 , 420 , 465 , 467 , 468 , 471 and 120B of the Indian Penal Code.

(3.) Heard learned Senior Counsel Mr. Yogesh Lakhani assisted by learned advocate Mr. P.M.Lakhani for the applicant, learned Additional Public Prosecutor Mr. Ronak Raval for the respondent State and learned advocate Mr. Virat G. Popat for the original First Informant.