NAVJEET SINGH SOBTI Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) The petitioner, Vice -Chairman and Managing Director of M/s Almondz Global Securities Ltd., previously known as M/s Allianz Securities Ltd. has preferred this revisional application under Section 401 read with Section 482 of the Code of Criminal Procedure challenging the order dated August 11, 2014 passed by Learned Judge, Special C.B.I. Court No.2, Bichar Bhawan, Calcutta in connection with Special (CBI) Case No.38 of 2011 corresponding to Special Case No.33 of 2008, by which Learned Judge of the court below framed charge against the petitioner under Sections 420/120B of the Indian Penal Code.

(2.) The backdrop of the present revisional application is as follows: The opposite party, Central Bureau of Investigation (hereinafter referred to as C.B.I.) registered first information report bearing no.RC0102007A0030 on August 14, 2007 against one Ram Krishna Ganguly, Senior Accounts Officer, Kolkata Port Trust on the allegation that surplus funds of Non -Contributory Provident Fund of Kolkata Port Trust to the tune of Rs.18 crore were invested with Housing and Urban Development Corporation (hereinafter referred to as HUDCO) through M/s Allianz Securities Ltd. in violation of guidelines of Government of India and without approval of the Board of Trustees of Kolkata Port Trust. The Vigilance Department of Kolkata Port Trust made an inquiry and confirmed that the said investment was made by Ram Krishna Ganguly, the then Senior Accounts Officer of Kolkata Port Trust by manipulating endorsement on the application form for investment of fund and by writing a separate letter to the HUDCO through broker, M/s Allianz Securities Ltd. and thereby he obtained undue gain by favouring M/s Allianz Securities Ltd. to earn commission to the tune of Rs.18 lakh. It is alleged that some other persons are also involved in conspiracy with Ram Krishna Ganguly in committing forgery and cheating for the purpose of assisting and aiding M/s Allianz Securities Ltd. to make wrongful gain as broker for investment of fund by Kolkata Port Trust with HUDCO.

(3.) The C.B.I. investigated the criminal case and submitted chargesheet against Ram Krishna Ganguly, Senior Accounts Officer, Kolkata Port Trust and M/s Allianz Securities Ltd. on the allegation of committing offence punishable under Sections 420/468/471/120B of the Indian Penal Code and under Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988. The C.B.I. also carried out further investigation and submitted supplementary Chargesheet under Section 173(8) of the Code of Criminal Procedure for prosecution of the petitioner as the Managing Director of M/s Allianz Securities Ltd. for the offence punishable under Sections 120B/420/468/471 of the Indian Penal Code read with Section 13(2) and 13(1)(d) of the Prevention of Corruption Act, 1988.