CENTRAL BUREAU OF INVESTIGATION Vs. DENA BANK

JUDGEMENT

(1.) The present application is filed by the CBI being aggrieved by an order dtd. 30/4/2019 passed by the Special Judge, CBI, below Exhibit-100 in Special Case No.64/2015. The learned counsel Ms.Kuttikrishnan representing the CBI would submit that the grievance of the Agency is, that the CBI apprehend that it may be dragged into unnecessary litigation and then, it would be compelled to defend the matter to protect it's interest. The said assumption, on perusal of the impugned order, appear to be completely unfounded.

(2.) The background facts would reveal that the Dena Bank lodged a complaint, alleging fraud to the tune of Rs.244.81 crores and during investigation, CBI tracked chunk of the amount and seized substantial sum of Rs.1,28,98,97,379.00. Out of this amount, on the application filed by Public Health Foundation, India, a sum of Rs.26.00 crores and Rs.11.00 crores was released in it's favour. Apart from this, even a sum of Rs.1,90,000.00 on an application filed by one Ramakant Deshpande was directed to be defreezed. Since the complainant in the subject C.R was the Bank, it moved an application for return of the seized money lying in various accounts and being conscious of the fact that some amount was already released in favour of PHFI, it claimed that the balance amount of Rs.91,43,66,552.00 be returned along with the interest.

(3.) By order dtd. 18/9/2017, the application filed by the Dena Bank was allowed and the CBI was directed to defreeze the account with the following direction :-