SATISH JI BHANDARI MANAGING DIRECTOR M/S ALPINE INDUSTRIES LTD Vs. M.P. STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD

JUDGEMENT

(1.) In this revision under Sec. 397/401 of the Code of Criminal Procedure, the applicant has challenged the validity of the order dtd. 5/7/2022 passed by learned 25th Sessions Judge, Bhopal in Criminal Appeal No.300 of 2022 so far as the same has imposed payment of 20% of the amount (i.e. Rs.50,47,397.00) by the appellant and his brother as a condition precedent for suspension of sentence.

(2.) The facts, in a nutshell, are that respondent MP State Industrial Development Corporation Ltd. (in short' the MPSIDC) in the year 2001 filed a complaint for dishonour of cheque of Rs.87,78,082.00 against the applicant. Thereafter on 17/4/2004, the MPSIDC took the possession of the factory unit of M/s Alpine Industries P. Ltd. under Sec. 29 of the State Financial Corporation Act, 1951. Thereafter a tripartite agreement was arrived at between MPSIDC, M/s. Alpine Industries Ltd. and M/s NPA by which M/s NA alone was responsible for payment of entire amount to MPSIDC. M/s NPA has paid an amount of Rs.9.08 Crores to the MPSIDC.

(3.) By the judgment dtd. 22/4/2022, learned Judicial Magistrate First Class, Bhopal convicted the appellant and levied interest at the rate of 9% per annum with effect from 10/6/2001 till the date of the judgment. The appellant preferred an appeal (Cri.A. No.300 of 2022) against the aforesaid judgment. The lower appellate Court by impugned judgment dtd. 5/7/2022 directed the applicant to deposit 20% of the amount in question i.e. Rs.50,47,397.00 as a condition precedent for suspension of sentence.