S M SINGH Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) The present Criminal Misc. petition under Section 11 Criminal Procedure Code has been filed by the petitioners, who are all employees of the Punjab National Bank, assailing the order dated March 1st, 2007 passed by the Civil Judge (Sr. Division) cum Additional Chief Judicial Magistrate, Deeg, district Bharatpur, taking cognizance against them for the offence u/Ss. 420, 406, 421 and 477 Indian Penal Code.

(2.) Succinctly stated the facts of this case are that all the petitioners are employees of the Punjab National Bank (for short, "the Bank"). The allegations of the complainant are that he had taken a loan of a sum of L 70,000/- from the Bank on 27.3.1990 and the margin money of L 23,500/- was deposited by complainant for the purposes of purchasing a photo scat machine. On the total money being received, a demand draft was given to the Firm M/s. Techniques, New Delhi and the photo stat machine was handed over to the complainant, non-petitioner No. 2, after being hypothecated with the Bank. The interest to be paid was fixed @ 13% on quarterly basis. The machine was insured and the insurance amount was also to be paid to the Bank. On 12th June, 1995, after using the machine for a period of more than five years, the complainant lodged a report at the concerned Police Station, inter-alia, alleging that the machine had been stolen. Based on the incident of theft of machine, the complainant also submitted a claim with the Insurance Company.

(3.) It appears that the Insurance Company raised some issues about the cover note and there-upon, the complainant was forced to approach the District Consumer Forum, impleading both the Insurance Company as well as the Bank as party to the claim. The Consumer Forum accepted the claim of the complainant and made an award in his favour, for a sum of L 59,315/- along with interest @ 15%. It appears that pursuant to the award, the complainant accepted the amount of insurance directly from the insurance Company.