PURNA CHANDRA RATH Vs. STATE OF ORISSA

JUDGEMENT

(1.) THE petitioner Purna Chandra Rath in BLAPL No. 3235 of 2015 is an accused in EOW, Bhubaneswar P.S. Case No. 16 of 2014 which arises out of Paradeep P.S. Case No. 110 of 2014 registered under sections 420, 408, 409, 467, 468, 471 read with section 120 -B of Indian Penal Code corresponding to G.R. Case No. 397 of 2014 pending in the Court of learned J.M.F.C (P), Kujang and he is in custody since 09.06.2015. He has approached this Court in an application under section 439 Cr.P.C. for bail as his prayer for bail was turned down by the learned Asst. Sessions Judge, Kujang in BLAPL No. 25 of 2015 vide order dated 17.06.2015.

(2.) SO far as EOW P.S. Case No. 16 of 2014 is concerned, on 25.4.2014 one Amit Kumar Choudhury, Manager and Office -in -Charge of Karam Chand Thapar and Bros. (Coal Sales) Ltd. (hereafter for short "the company"), Paradeep lodged a First Information Report before Inspector -in -Charge, Paradeep Police Station stating therein that accused Rakesh Kumar Chopra was appointed in the company in the year 1980 and later he officiated in the capacity of Deputy Vice President at Paradeep Branch of the company. Though there was a condition for employment in the Company that the employee should not do his own business or any business related activity with any other company without the consent of the company but accused Mr. Rakesh Kumar Chopra breached the terms of employment and formed his own companies such as Avisons Works Pvt. Ltd., M/s. Maa Durga Logistics and cheated the company by diverting the company's business and also doing business with the business competitors of the company and diverted company's fund for his self illegal enrichment. It is further stated in the FIR that by wrongfully carrying out parallel business similar to that of company's business and illegal act of continued breach, there was significant financial loss to the company over a period of time. It is further stated that accused Rakesh Kumar Chopra forged and fabricated the bank statements of company's bank account, forged the statement of Oriental Bank of Commerce, Paradeep Branch and sent forged statements to the Head Office at Kolkata. It is further stated that the forged statements were printed and manufactured by accused Rakesh Kumar Chopra.

(3.) THE investigation of EOW P.S. Case No. 16 of 2014 and EOW P.S. Case No. 17 of 2014 were simultaneously conducted which indicated that the total amount of fraud is rupees thirty crores by the accused persons. During course of investigation, the statements of the witnesses were recorded, appointment orders of both the accused persons including the petitioner were seized. The bank statements from Oriental Bank of Commerce, Paradeep Branch, both forged and original documents were seized. The original financial instruments, bank cheques, advice slips from Oriental Bank of Commerce and Odisha State Cooperative Bank, Paradeep Branch were seized. The audit report presented by Saket Surolia, Finance Manager of the Company to the Head Office indicated that both the accused persons had diverted the company's fund to their own companies M/s. S.R. Associates, M/s. S.P.R. Associates, M/s. S.K. Associates, M/s. Sonal Distributors and M/s. Aar Pee Carriers though those companies had no link with KCT Group of Company either in business or otherwise. All the financial instruments presented in Oriental Bank of Commerce, Paradeep Branch were seized which indicated manipulation by using white eraser and the bank officials in connivance with the accused persons passed the financial instruments without any objection and in that process huge amount was diverted to the bank accounts of different firms and companies owned by the accused persons in the name of their kith and kins. From the audit report of the company, it was ascertained that total of Rs. 11,68,58,096/ - have been diverted by accused persons to their own established Companies. The period of misappropriation is stated to be from April 2009 to December 2013.