MORESHWAR DINANATH SAVE Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) These three petitions are being disposed of together inasmuch as they arise in identical circumstances and involve same questions of law and facts.

(2.) By these petitions, petitioners seek quashing of criminal proceedings pertaining to Special Case No.6/1992 and Special Case No.7/1992 arising out of Crime No.RC-16/1974 registered by C.B.I., Bombay.

(3.) Petitioner - Moreshwar Save is Chairman of Savera Group of Companies, which deals in manufacturing Pharmaceuticals and engineering products, transport, computers, cinema theatres etc. Petitioner-Ganesh Datar is Ex-Manager of United Commercial Bank, Aurangabad. A vigilance Officer of the said UCO Bank gave a report dated 24th December 1973 to the C.B.I. against Ganesh Datar, one Ex-Accountant, one Sardar Tarlochansing and petitioner - Moreshwar Save alleging financial irregularities. It was alleged that overdraft facilities were granted in favour of said Sardar Tarlochansing and petitioner - Moreshwar Save in the excess of permissible amounts. It was further alleged that petitioner - Ganesh Datar did not charge appropriate interest on the amounts recoverable in respect of certain transactions, including which were overdue in respect of such overdraft facility allowed in favour of Sardar Tarlochansing and petitioner - Moreshwar Save.