RAMESH GANDHI Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) HEARD the parties.

(2.) ABA Nos. 54, 58 and 63 of 2003 arise from R.C. 2(A)/96 (D) and as such they are disposed of by this order.

(3.) IT has been submitted by Mr. Dipankar Gupta, learned Sr. Advocate for the petitioner Ramesh Gandhi that it is a case of commercial transaction in which as per the norms the bills are discounted by the Bank under SBPOD and accordingly the 4th running bill amounting to Rs. 22,40,106/ - was discounted by Vijaya Bank and the said amount was credited in the account of M/s CTCC and the officiating Branch Manager i.e., petitioner S.N. Bhattacharjee informed the Area Finance Manager, Bastacolla Area, BCCL, Dhanbad regarding the discounting of the said bill and also requested him to pay the amount of the bill through cheque drawn in favour of Vijaya Bank, Dhanbad but the Area Finance Manager, Bastacolla Area, BCCL, Dhanbad committed an irregularity in drawing the cheque of the discounted 4th running account bill in the name by M/s CTCC and deposited in its account at SBI Ramagarh Cantt. It has also been submitted that when the said irregularity was detected the entire amount under the 4th running account bill was deposited in the Vijaya Bank, Dhanbad not only along with interest but also with penal interest several years prior to the institution of the FIR. It has also been submitted that now nothing is due of Vijaya Bank against M/s CTCC in respect of the discounted 4th running account bill aforesaid and annexure -5 which is the letter of Vijaya Bank shows that nothing is due of the Bank in respect of the 4th running account bill as the entire amount has been paid between 1.10.1994 to 22.11.1994 and M/s CTCC had themselves deposited the said amount and after this date no amount remained payable by M/s CTCC to the Bank against the said bill purchased under SBPOD limits of the said firm. The said letter, annexure -5, further discloses that the credit limit of M/s CTCC, Dhanbad is Rs. 824.95 lakhs out of which SBPOD limit is Rs. 50.00 lakhs.The said letter, annexure -