KIMITI LAL JAIN Vs. STATE

JUDGEMENT

(1.) RC No. 34(A)/98 under Sections 120-B/420/468/471 IPC and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act dated 15.6.98 has been registered by Central Bureau of Investigation/ACB, New Delhi, wherein the following material allegations are found :-

(2.) DURING 1995, M/s R.K. Viz, Regional Marketing Manager, M.V. Prabhakar, Dy. Finance Manager and Rakesh Chauhan, Accountant Assistant of the regional office of Bongaigaon Refinery and Petro Chemical Ltd. (hereinafter referred to as B.R.P.L.), New Delhi entered into a criminal conspiracy with M/s Arihant Cotsyn Limited (hereinafter referred to as A.C.L.) Industrial Estate, Ludhiana and others. In pursuance thereof, the aforesaid officials of the B.R.P.L. by abusing their positions, fraudulently and dishonesty allowed M/s A.C.L. to lift Polyester Staple Fibre (hereinafter referred to as P.S.F.) worth Rs. 67 lacs on the basis of fake letters of credit, and thereby causing pecuniary loss to B.R.P.L. The letters of credit are dated 23.5.95, 9.6.95 and 22.6.95, while the invoices are dated 3.4.95, 28.4.95, 13.7.95 and 14.7.95. Mr. R.K. Viz, on receipt of the indents from M/s A.C.L. raised requisitions for the sale of PSF mentioning therein the bogus numbers of letters of credit. M.V. Prabhakar in collusion with the party and without verifying the genuineness of the letters of credit fraudulently approved the sale of PSF with the intent to cause loss to B.R.P.L. Rakesh Chauhan, Accountant Assistant showed entries of bogus letters of credit received from A.C.L. against which the P.S.F. in question was sold. But on correspondence with the Punjab National Bank, Ludhiana, from where the questioned letters of credit are said to have been issued, it was found that these letters of credit were not issued in favour of B.R.P.L.

(3.) I have heard the counsel for both the sides and perused the records on file.