IN MATTER OF Vs. BAIJU RADHAKRISHNAN NAIR

JUDGEMENT

(1.) Petitioner has approached this Court assailing the proceeding in Hare Street Police Station Case No.432 dated 24.7.2014 corresponding to G. R. Case No.1632 of 2014 pending before the learned Chief Metropolitan Magistrate, Calcutta under Sections 408/420/468/471/477A/120B of the Indian Penal Code.

(2.) The gist of the allegations in the impugned charge sheet is to the effect that the petitioner was appointed as Deputy General Manager (Export) of M/s. Birla Tyres on 2.5.1994 and with time rose in the corporate hierarchy to the capacity of Vice-President, International Business Division of the said company. It has been alleged that in such capacity, the petitioner acted as an agent of the company and dealt with its foreign customers and in the course of such activity was entrusted with payments made from such customers in connection with supplies dispatched to them by way of exports. The petitioner had to account for such receipts to the complainant company. It is further alleged that in the course of discharge of such duty during the financial years of 2011-2012, 2012-2013 and 2013-2014, the petitioner had misappropriated a sum of Rs.3,93,48,533/ by floating a separate company under the name and style of M/s. Brijo Tyres and Wheel Systems Pvt. Ltd. by dishonestly portraying to the foreign buyers that the later company was a sister concern of the complainant company. On such dishonest and fraudulent representation the petitioner had diverted payments made by the said foreign buyers to the tune of Rs.1,19,79,133/- by siphoning it into bank accounts of the said company.

(3.) It appears that the aforesaid company which was falsely represented as a group company of the complainant company, was a family holding of the petitioner and his relations including his sister. Such fraudulent facilitated were engineered by the petitioner creating a fictitious identity in the electronic domain. Apart from making the aforesaid dishonest oral representations, the petitioner reinforced such representation by creating a fictitious identity in the electronic domain wherein he claimed the aforesaid company floated by him to be a sister concern of the complainant company.