FIDELITY INDUSTRIES LTD Vs. STATE REP

JUDGEMENT

(1.) These revisions have been filed against the order of the Principal Special Judge for CBI Cases, Chennai made in Crl.M.P.Nos.90/2003 in C.C.No.12 of 2003 and Crl.M.P.No.84 of 2003 in C.C.No.2 of 2003.

(2.) The brief facts of the case are as follows: The petitioner herein is the 4th and 1st accused respectively in the prosecution filed by the respondent who has filed charge sheets for the offences punishable under sections 120B r/w 420, 409 IPC and 13(2) r/w 13(1)(d) pf PCAct and u/s 7 and 12 of PC Act, 1988in one case and under sections 120-B r/w 409, 420, 467,468 & 471 IPC and 13(2) r/w 13(1)(d) of P.C.Act in the other case against the petitioner company and others. The prosecution case is that the other accused have entered into a criminal conspiracy during the year 1998 to 2000 to cheat Punjab and Sind Bank, Mount Road Branch, Chennain in the matter of recommending, sanctioning and release of cash credit and Letters of credit facilities in favour of the petitioner company by committing criminal breach of trust, by abusing the official position of A1 as public servant and by forging documents and using the same as genuine and in pursuance of the aforesaid criminal conspiracy, the other accused have made false declaration about securities, forged various documents viz., account opening form, delivery chalans, invoice etc., and used the same as genuine and further A1 in C.C.No.2/2003 had facilitated opening of 26 LCs in the name of the petitioner company in the said bank and thereby dishonestly siphened off funds of the bank which caused a wrongful loss to the bank to the tune of Rs.429.42 lacs as on 1.10.2000 and corresponding wrongful gain to the other accused. The entire loan has been availed by the petitioner company represented by its directors.

(3.) The petitioner company filed the above Crl.M.P.Nos.90&84 of 2003 before the Principal Special Judge for CBI cases, on the ground that the petitioner company in these revisions being a company duly incorporated as per the Companies Act, has been also charged under section 420 IPC which is punishable with imprisonment compulsorily and further the said offence requires mens rea and therefore the A4 company cannot be prosecuted for the offence under Section 420 IPC., Learned Special Judge for CBI Cases dismissed the said discharge petitions. Aggrieved over the same, these revisions have been filed.