SURESH GUPTA Vs. STATE

JUDGEMENT

(1.) This Criminal Petition is filed by the petitioner/accused No.1 (A.1) under Sec. 482 of the Code of Criminal Procedure, 1973 (for short 'Cr.P.C.') to quash the proceedings against him in C.C.No.7 of 2015 on the file of Principal Special Judge for CBI Cases, Hyderabad. The offences alleged against the petitioner are under Ss. 120-B, 409, 420, 465, 471, 477-A of Indian Penal Code (for short 'IPC') and under Sec. 13 (2) r/w.13 (1) & (d) of the Prevention of Corruption Act, 1988.

(2.) The facts of the case are that the General Manager of the 2nd respondent-M/s.Mineral and Metal Trading Corporation (MMTC) who is the defacto complainant gave complaint alleging certain irregularities with regard to the gold transactions committed by the officials of MMTC in connivance with private persons causing wrongful loss to a tune of Rs.194.4 Crores to MMTC and alleged the following irregularities :

(3.) Basing on the above irregularities, the matter was investigated and charge sheet was filed for the offences under Ss. under Ss. 120-B, 409, 420, 465, 471, 477-A of Indian Penal Code (for short 'IPC') and under Sec. 13 (2) r/w.13 (1) & (d) of the Prevention of Corruption Act, 1988 and under Sec. 65 of the I.T.Act. After the investigation, the 1st respondent found that M/s.MBS Impex Pvt. Ltd, represented by its Managing Director Sukesh Gupta i.e., petitioner herein addressed letter dtd. 23/11/2005 to the General Manager, MMTC, Hyderabad requesting him to register their company with MMTC for starting bullion business on loan basis under Open General Licence (OGL) Scheme.