JITENDRA BALMUKUND DHOSHI Vs. UNION OF INDIA

JUDGEMENT

(1.) THE petitioner, who is original accused No. 2 in Special Case No. 23 of 1990 pending in the Court of the Special Judge, Sessions Court, Greater Bombay, has filed this criminal application under section 482 of the Code of Criminal Procedure for quashing the process issued by the Special Judge in the said case on 10-1-1992.

(2.) BRIEFLY stated the facts, which give rise to this application, are as under: the petitioner was the Director of M/s. Gypsy Footwear Private Limited having their registered office at 3-B, Sherbanoo, 111 M. K. Road, Bombay (the said company for short) and having factory at B-26, MIDC, Phase-I, Dombivli (East), Dist. Thane. At the relevant time, one Cyrus Jolley Shroff was the manager of the Kalbadevi Branch of the Bank. The said Cyrus Shroff is accused No. 1 in Special Case No. 23 of 1990. The said company had passed a resolution on 25-5-1987 for availing of credit facilities from the said bank. An account being account No. 211243 was opened in the said bank on 27-5-1987 by depositing Rs. 2000/ -. This was opened by the petitioner and one V. J. Doshi in the capacity as directors of the said company. The specimen signature card was verified by the said Cyrus Shroff. By letter dated 19-5-1987 the said company applied for cash credit (hypothecation) facility of Rs. 20,00,000/- alongwith other facilities to the bank. The companys resolution dated 25-5-1987 was sent alongwith the said proposal. The said Cyrus Shroff strongly recommended the case of the said company and submitted it to the Zonal office of the Central Bank of India. On his recommendation, cash credit (hypothecation) limit alongwith other limits were sanctioned by the Zonal office with certain terms and conditions. The said terms and conditions were communicated to the said company on 10-6-1987. The said terms and conditions are as under :

(3.) ON 23-6-87, a cheque book came to be issued in favour of the said company. On 24-6-87 the petitioner issued four account payee cheques, which were cleared by the said Cyrus Shroff. The particulars of the cheques are as under.