T SRINIVASA RAO Vs. STATE OF A P

JUDGEMENT

(1.) This is an application filed under Section 482 of the Code of Criminal Procedure, 1973, (for short 'the Code') to quash the order dated 30-4-1998 passed by the learned Chief Metropolitan Magistrate, Visakhapatnam. The petitioners herein are A-1 and A-5 in Cr.No. 123/98 on the file of III Town Law and Order Police Station, Visakhapatnam City. The second respondent herein is the de facto complainant.

(2.) The second respondent herein filed a private complaint against the petitioners and three others in the Court of the learned Chief Metropolitan Magistrate, Visakhapatnam under Sections 120-B, 420,406,468,471 and 477-A I.P.C. It my hot be really necessary to go into the details of the allegations made against the petitioners herein. Suffice it to notice that A-1 to A-4 opened a current account in the second respondent-Bank. It is alleged that on the request of A-1 to A-4 'Local Cheques Purchase' facilities were granted initially to the respective concerns. They used to present the local cheques and requested the Bank to discount the same to enable them to withdraw the amounts on the same day, after deducting the commission. It is alleged that A-1 to A-4 jointly and severally made the Bank to purchase many cheques and after getting the cheques discounted by the Bank they used to take pay orders in favour of their Constituents/persons. The particulars of the cheques that were discounted by the Bank on various dates are detailed in the Annexure enclosed with the complaint. It is further alleged that the accused made the Bank to believe that they are creditworthy people and requested the Bank to present the cheques which were returned subsequently. On several occasions, upon their request, the cheques were re-presented; but the same were returned unrealised. Several assurances were given by the accused that they will make good the payment to the Bank the amounts which they have taken by way of Pay Orders after the cheques were discounted and requested the Bank to permit them to discount for further cheques and also drawings against clearing in order to repay the entire amount. The Bank believing the statement of the accused, discounted the cheques and allowed drawings against clearing.

(3.) Later the Bank Management came to know that A-1 to A-4 have mislead the Bank with their false statements and made the Bank to part with their money. All the accused have colluded with each other in indulging in various criminal acts. After thorough verification, the Bank came to know that the accused have jointly and severally done the acts of (i) cheating and criminal conspiracy, (ii) making unlawful gain (iii) committing criminal breach of trust and (iv) committing fraud and cheating. It is alleged that in that process a total sum of Rs. 2,67,86,137-00 (Rs. Two crores, sixty seven lakhs eighty six thousand and one hundred and thirty seven only) have been taken by A-1 to A-4 by fradualent means. Reference to other allegations made in the complaint may not be necessary for the purpose of disposal of this application.