CENTRAL BUREAU OF INVESTIGATION Vs. AMIT ZAVERI

JUDGEMENT

(1.) RULE . By consent rule is made returnable forthwith. Heard. The aforesaid Writ Petition and the revision application arise out of the same order passed by the Additional Sessions Judge, Greater Bombay in Criminal Revision Application No. 226 of 1995 on 19th October 1995. Revision Application before the Sessions Court was preferred by the petitioner in the above writ petition against the order of the Addl. Chief Metropolitan Magistrate, Esplanade, Bombay, dated 15th September 1995 in Cri. Case Nos. 22/RA1994 and 19/RA/1194. In the aforesaid two criminal cases Respondent No. 1 herein Amit Zaveri has been arrayed as Accused and would hereinafter referred to as "Accused Amit Zaveri" , while petitioner as "C.B.I." and Respondent No. 2 in the writ petition (Petitioner in the above revision application) as "Bank of Baroda". The accused Amit Zaveri is charged for having committed offences under Sections 420, 467, 468, 471 of the Indian Penal Code. The material facts leading to charge are as under :-

(2.) WHEN the fraud came to the notice of the Board of Directors of the Bank, a complaint came to be lodged with the C.B.I. upon which an offence was registered. The CBI started investigation and during that course carried out number of searches, Substantial number of shares was found in possession of Accused Amit Zaveri at his residence and those were seized. Shares of substantial value are from both categories viz. those listed with Stock Exchange and 'not listed' which are commonly known as 'Listed' and 'Un-listed' shares. Some shares of accused Amit Zaveri were found lying unofficially with the Bank of Baroda and those were also seized.

(3.) THE CBI feeling aggrieved by this order preferred Revision Application No. 226 of 1995 to the Court of Sessions, Bombay for certain modifications. The Addl. Sessions Judges, Gr. Bombay by her order dated 19th October 1995, modified to some extent order of the Addl. Chief Metropolitan Magistrate. Aggrieved by that, the CBI has filed this writ petition while Bank of Baroda has preferred the revision application.