Madhya Pradesh High Court
Dinesh Kumar vs The State Of Madhya Pradesh on 7 September, 2021
Author: Vivek Rusia
Bench: Vivek Rusia
-1- MCRC No.34584/21
HIGH COURT OF MADHYA PRADESH: BENCH AT INDORE
MCRC NO.34584/2021
Dinesh Kumar s/o Amar Singh,
Age-59 years, Occupation-Nirudh,
R/o Bondra Sector, Vikas Colony, 7,
Agra (U.P),
present address Subhash Nagar, Ujjain M.P .......Applicant.
vs.
State of M.P through police station CBI (M.P) ......Non-applicant.
07.09.2021: (Indore):
Shri Ajay Bagadiya, learned counsel for the applicant.
Shri Himanshu Joshi, learned ASG for the respondent/CBI.
Heard with the aid of case diary.
This is first application filed under section 439 Cr.P.C seeking bail in connection with crime no.RC0092018A0001/2018 registered by CBI, Bhopal for the offence punishable under sections 120B, 420, 467, 468, 471 IPC & u/s 13(2) & 13(1)(d) of the Prevention of Corruption Act.
As per prosecution story, Vijay Kumar Harit, Chief Manager, PNB, Assets Recovery Management Branch, Indore lodged a written complaint against M/s Anupam Trading Company, district Ujjain; Arpan Prajapati (proprietor of M/s Anupam Trading Co., Ujjain); Narendra Prajapati (guarantor); Rajesh Shrivastava (Bank's approved valuer); officials of Punjab National Bank, Branch Kanthal, district Ujjain and unknown others alleging criminal breach of trust, cheating and fraud in the matter of disbursement of cash credit, hypothetical loan by PNB Kanthal Branch, district Ujjain to M/s Anupam Trading Company, district Ujjain causing wrongful loss of about Rs.4,50,33,781/- to PNB during the period July, 12 to Oct., 16. The FIR was registered on 27.3.2018 u/s 120-B, 420, 467, 468 & 471 IPC & 13(2) r/w 13(1)(d) of the PC Act, 1988 by the CBI. The investigation has revealed that Anupam Trading Company which is engaged in the trading of coal was granted the sanctioned cash credit -2- MCRC No.34584/21 (hypo) loan of Rs.4.00 crore by the PNB, Branch Kanthal, district Ujjain which was further enhanced on 13.12.2013 to Rs. 7 crores and for the purpose of aforesaid loan the coal stock and book debts were hypothicated as primary security. Narendra Prajapati stood as a guarantor, mortgaged his 3 immovable properties as collateral security in favour of the bank. Rajesh Shrivastava, the impaneled valuer has valued the aforesaid mortgaged property at Rs.1162.18 lakhs. It is alleged in the charge sheet that the aforesaid primary security, stock and debt book were depleted by the borrower Arpan Prajapati without any information to the bank and he did not deposit the sale amount of the primary security with the bank. It has also been revealed that the value of the mortgaged property of the guarantor Narendra Prajapati as collateral security was shown on the higher side. An amount of Rs.4,50,33,781/- with interest was outstanding against Anupam Trading company which has turned NPA. The investigation has further revealed that the loan application dated 20.7.2012 was proceeded by Sudhir Kumar Kad, Senior Manager, PNB, Kanthal Branch who was functioning as Loan In-charge in the bank. He has failed to mention in the process note that the firm was availing cash credit of Rs.95 lakhs from the Allahabad Bank. He did not verify the document relating to the business of coal trading of the firm and on the basis of forged documents i.e. loan closure certificate of Allahabad bank, land diversion order dated 12.5.2011 has processed the loan which was later on enhanced to Rs.7 crores. Accordingly, he has been made as one of the accused in the case.
Learned counsel appearing for the applicant submits that the applicant has relied on the report submitted by the official valuer of the Bank. His subordinate officer has processed the loan documents after verification of the documents which he has further forwarded to the higher officials. He has worked as bank official without any prior knowledge or criminal intention. The allegation of forgery and cheating are against the main accused Arpan Prajapati and associates. The CBI has registered as many as 4 FIRs against the applicant. In one of the criminal case (Crime No.RC0082018A0019/2018) this Court -3- MCRC No.34584/21 has rejected the bail applications Sudhir Kumar Kad Sr Manager. Thereafter, he approached the Apex Court. The Apex Court vide order dated 03.02.2021 has directed the prosecution to ensure the examination of crucial witnesses within a period of 3 months and disposed of the SLP (Cri.) No.4927/2020. Thereafter, he again filed SLP (Cri.) No.4927/2020 (Cri.Appeal No.475/2021) and vide order dated 07.05.2021 the Apex Court has granted bail to the accused by observing that "we do not find any reason as to why, pending trial, the appellant shall remain detained in custody" and there is no progress in trial. It is further submitted that in this criminal case charge sheet was filed on 18.12.2019 but till today the charges have not been framed, therefore, there is no progress in the trial, hence he is claiming parity of the order dated 07.05.2021 passed by the Apex Court in SLP (Cri.) No.4927/2020 (Cri.Appeal No.475/2021).
Shri Himanshu Joshi, learned ASG opposes the bail application by submitting that the applicant was holding a responsible post in the loan division. He has never verified the stock of coal by visiting the site. He even did not carefully verify the veracity of the documents and sanctioned the loan, however, he admits that the charges against the applicant in all the 4 FIRs are almost identical.
Heard learned counsel for the parties and perused the case diary. In one of the case (Crime No.RC0082018A0019/2018) the Apex Court has granted bail because of the delay in trial. In this case also there is no progress in the trial, therefore, on the ground of parity with the order dated 07.05.2021, without commenting on the merit of the case, the application is allowed. The applicant is directed to be enlarged on bail in connection with the aforesaid crime number registered by the CBI, Bhopal subject to furnishing surety bond amounting to Rs.1 Lakh (Rupees One Lakh) with two sureties of the like amount, one of whom should be a resident of Ujjain. Further, it is directed that the passports of the applicant shall be confiscated and be deposited with the Presiding Judge, CBI Court, Indore, M.P. The applicant should not contact or influence the witnesses and shall attend the trial regularly. In case the applicant violates any of the conditions -4- MCRC No.34584/21 of bail, the CBI would be at liberty to apply for cancellation of the bail.
C.c as per rules.
(VIVEK RUSIA)
Digitally signed by HARI
JUDGE
KUMAR C G NAIR
Date: 2021.09.09 17:33:42
hk/ +05'30'