K V KAMATH Vs. PRADIP KR SUREKA

JUDGEMENT

(1.) The question involved in this revisional application is whether the petitioner Mr. K. V. Kamat, Managing Director and C.E.O. of the ICICI Bank Limited can be rightly prosecuted for offences under Sections 384/392/120B/427/500/504 of the I.P.C. The opposite party No.1 Pradip Kr. Surekha lodged a petition of complaint with the learned Additional Chief Judicial Magistrate of South 24-Pargamas at Alipore on 27.11.2008 alleging the following.

(2.) Accused No.1 Rajib Dubey is the Recovery Manager, Eastern Zone, ICICI Bank Limited, Accused Nos.2 and 3, namely, Md. Ali and Gobardhan are said to be recovery agents, and accused No. 4, K. V. Kamat is the Managing Director-cum-CEO of the ICICI Bank Ltd. The complainant secured a loan of Rs.4,57,000/- sometime in November, 2004 on certain terms and conditions as. were embodied in the agreement. A sum of Rs. 8725/- was payable as EMI. The money was advanced for purchase of a vehicle being No. WB-02T-1323 (Ford Ikon). The vehicle was in the custody and control of the complainant and it was kept in the garage at 30, S. N, Roy Road under P.S. Behala. The car was fitted with tape recorder, AC machine and a small colour television. A Title Suit being No. 4762 of 2008 was instituted by the ICICI Bank in the 8th Bench of City Civil Court at Calcutta in respect of the vehicle allegedly by suppressing the material facts against one Chanda Prasad quoting the vehicle number as WB-02T-1323 and obtained an order for appointment of receiver to take possession of the vehicle. On 21.1.2008 at about 8 a.m. in terms of the direction of the accused No.4 who is the present petitioner for pursuing the policy of the bank in the matter of forcible possession of the vehicle the other three persons along with certain unknown persons by hatching a criminal conspiracy organised a raid for taking the vehicle. On 21.1.2008 at about 8 a.m. when the complainant was driving the vehicle after taking out the same from his garage with his son inside the vehicle and brief case containing a sum of Rs.20,000/- these three persons intercepted the vehicle; they dragged the complainant out of the vehicle and started assaulting him by fists and blows in the presence of the complainant's son. The complainant and his son immediately rushed to Behala P. S. and informed the Duty Officer of the incident by lodging a G. D. E. No. 2089 dated 21.11.2008. At around 11 a.m. on 21.11.2008 the complainant's son Pronoy being accompanied by two other members of the staff of the complainant visited ICICI Bank Limited at 2, Upper Wood Street, Calcutta- 16 under P.S. Sheakespeare Sarani and met the accused No.1 and narrated the incident and sought an explanation for interception and taking possession of the vehicle. By producing the xerox copy of the Order No.2 dated 15.11.2008 passed in Title Suit No. 4762 of 2008 the said accused stated that for non-payment of the EMI amount the order was obtained against one Chanda Prasad. Pronoy stated that the said vehicle was owned by his father, namely, the complainant and produced all papers including the EMI statement. Then the accused No.1 started finding out the actual position and asked Pronoy to wait for some more time. After about half an hour the said accused eventually came back to Pronoy and admitted the fault. On being asked for return of the vehicle the said accused No.1 asked him to take delivery of the vehicle, which was already damaged by the recovery agent, from their godown at Andul Road, Howrah. Pronoy expressed his unwillingness to go to Andul Road godown. Then the accused No.1 arranged for delivery of the vehicle in a damaged condition at the crossing of Park Street and Rati Ahmed Kidwai Road on the same date and it was found that the brief case containing cash of Rs.25,000/- tape recorder, television set were ail missing from the vehicle. The complainant also arrived at the time at the place and at the time of delivery of the vehicle the said accused No.1 and his people hurled abusive languages and assaulted the complainant's father by fists and blows. His spectacles was damaged, shirt was torn by the accused persons. The complainant and Pronoy went to National Medical College and Hospital where the complainant was examined and treated by the doctor. At about 7.10 p.m. complainant went to Sheakespeare Sarani P.S. and lodged a written complaint. Since then the complainant and his family members have been regularly threatened over phone with dire consequences if he would proceed in the matter any further. Allegedly, the bank indulged in acts of commission and omission attracting the penal provisions disregarding the observation of the Supreme Court in ICICI Bank Limited v. Prakash Kaur, reported in AIR 2007 SC 1349 to the effect "we are governed by the rule of law in the country. The recovery of loans or seizure of vehicles can be done only through legal means. The banks cannot employee 'goondas' to take possession by force." Thus a bank has been using money and muscle power by giving good bye to the rule of law to perpetuate their mission of recovery of loan by hooliganism.

(3.) Learned Additional Chief Judicial Magistrate examined the complainant under Section 200 Cr.P.C, perused certain documents and by a lengthy order dated 27th November, 2008 issued non-bailable warrant of arrest against all the accused persons. The learned Magistrate observed that the present incident is not a new to the society as time and again several complaints have been come across against the illegal and unethical manner of recovery of loan by the banks in spite of caution given by the Supreme Court. Learned Magistrate observed that the present accused persons appeared to be attached to a bank against which such type of incident was noticed earlier.