SHANKAR PARWANI Vs. STATE OF HARYANA

JUDGEMENT

(1.) By this order, I intend to dispose of two petitions i.e. CRM-M-46577-2019 filed by petitioner Shankar Parwani and CRM-M-43373-2019 filed by petitioner Kaushik Chatterjee, who are accused in FIR No. 356 dated 20.8.2019, under Sections 406, 408, 420 IPC(offence under Section 387 IPC added later on), registered at Police Station Civil Lines, Gurugram for grant of regular bail.

(2.) Briefly stated, facts of the case as per prosecution story are that complainant Capri Global Capital Limited having its office at Gurugram, a Non-banking Financial Company engaged in business of providing financial services had submitted a written complaint to Commissioner of Police, Gurugram against Kaushik Chatterjee, M/s M.S. Hotel through its Proprietor Shankar Parwani, Varsha Parwani, Dipesh Parwani, Vrishab Parwani and Riddhi Siddhi Mobile. Inter alia, in the complaint the complainant contended that Kaushik Chatterjee had joined that company on 4.7.2016 as Group CRO- Executive Director; the company reposed huge trust in him and he in turn had undertaken to work as per the terms and conditions agreed upon between the parties; accused Kaushik Chatterjee was duty bound to carry out the responsibilities and duties assigned to him from time to time and to act in the best interest of the company in its fiduciary capacity; accused Kaushik Chatterjee being a senior management personnel in the company was vested with such powers to use his discretion in critical and decision making matters, therefore any proposal for sanctioning the loan, which involved critical issue requiring deviations were to be decided by Kaushik Chatterjee himself. However, two back to back loans were sanctioned, granted and allowed to be disbursed by Kaushik Chatterjee from the complainant company to one M/s M.S Hotel through its proprietor Shankar Parwani along with his wife Varsha Parwani and sons Dipesh Parwani, Vrishab Parwani and Riddhi Siddhi Mobiles as co- borrowers; the first loan is of Rs.46 lakhs and the second loan is of Rs.5,13,594/- within a period of less than 12 months by violating company lending policy without recording the approval, allowing such critical deviations by arbitrarily misusing his authority over various functions; he had accepted a building as collateral security, which had collapsed just within three months from the disbursement of the second loan to the borrower killing 10 innocent persons; the said collateral security provided by way of mortgage was actually a residential property, however, in violation of plans and layout sanctioned by the Municipal Office at Indore, the same was used for commercial purpose i.e. running a lodge; by his such acts Kaushik Chatterjee got wrongful gain, but caused wrongful loss to the complainant company. Later on it transpired that the purpose of raising loan by the borrower was not for working capital requirement but for his son's marriage. The technical valuation reports from two different valuers were obtained. A title report from an Advocate was also obtained; that Kaushik Chatterjee is a habitual offender and he has committed criminal breach of trust of his earlier employers also. Formal FIR No.452 dated 14.9.2018 for the offences under Sections 406, 408, 420, 120-B and 34 IPC had been registered against him at Police Station Civil Lines, District Gurugram. He was arrested in that case and released on bail.

(3.) Accused Kaushik Chatterjee was arrested in this case on 26.8.2019, whereas accused Shankar Parwani was arrested on 16.9.2019 and presently they are in judicial custody. However, on completion of investigation, challan has been filed in the Court. The petitioners had moved applications for regular bail in the Court of Sessions but were unsuccessful there, as such they have approached this Court by way of filing these petitions asking for the similar relief, notice of which has been issued to the respondent - State, which put in appearance through counsel. The complainant has also appeared through counsel.