BRIJ BHUSHAN SHARMA Vs. STATE

JUDGEMENT

(1.) Shri Brij Bhushan Sharma-petitioner herein, an accused in case FIR No. 35/2005 under Section 5(l)(c)(d) of Prevention of Corruption Act, 1949 read with Sections 120-B, 419, 420, 468 and 471, IPC, with Respodnents 4 and 5, through medium of instant petition under Section 561 A, Cr. P.C. seeks quashment of the charge-sheet pending against him before Special Judge Anti Corruption, Srinagar. The petition has been filed against the following backdrop.

(2.) Shri Mohammad Shaft Dar, Chairman Co-operative House Building Society, Budgam-respondent No. 4 in the present petition and Shri. Mohammad Yousuf Kuchay-respondent No. 6 in the present petition (deleted vide High Court order dated 19th March, 2010), sometime in 1998 conceived a plan to develop a residential Housing Colony at Humhama, District Budgam. To execute their plan they approached one Sofi Mohammad Hussain, owner of large chunk of land measuring 139.18 Kanals for purchase of said land for setting up the proposed housing colony and after negotiations settled the price @ Rs. 1.87 lacs per kanal. However, as Mr. Sofi insisted on payment of the total consideration amount in one go, the duo approached petitioner-Managing Director J & K Co-operative Housing Corporation Limited (hereafter to be referred as Corporation) for financial assistance/loan of Rs. 8.00 crores.

(3.) The Corporation declined to sanction any loan to the Respondents 4 and 6 (deleted). The Corporation however, developed an interest in, on its own developing the proposed Housing Colony. The Corporation instead of extending loan facility entered into negotiations with the respective No. 6 (deleted), whereby it agreed to purchase an area of land measuring 214 Kanals from the respondent No. 6 (deleted)-attorney holder of the land owners for an amount of Rs. 8.56 crores @ Rs. 4.00 lacks per kanal.