Bombay High Court
C B I vs B. C. Dalal And Ors on 7 September, 2018
OSK
IN THE SPECIAL COURT AT BOMBAY
( Constituted under the Special Court [Trial of Offences Relating to
Transactions in Securities] Act, 1992 )
Date : 7 th September, 2018. EXHIBIT- [ 434 ]
SPECIAL CASE NO. 04 OF 1995
Deposition of Witness No. 23 for the Prosecution
I do hereby, on solemn affirmation, state that :
My name is : R. Kalyan Raman
Age : 67 Years
Occupation : Consultant
Residing at : 302, Jai Sai,
Central Avenue, Chembur,
Mumbai - 400 071.
Examination-in-Chief by Mr. R. S. Mahamane,
Special P.P. for C.B.I.
1. In the year 1992 I was deputed to Andhra Bank
Financial Services Ltd. from Andhra Bank. During that period, the
CBI has called for certain documents from ABFSL and I have
produced them before the officer of the CBI.
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2. Now I am shown the document D-910. It is 'Seizure
Memo' dated 7.11.1992. Under this Seizure Memo, I have handed
over in all (04) documents to the CBI. The contents of the Seizure
Memo are correct. The Seizure Memo is signed by me and the Officer
of the CBI. [It is marked as Exhibit-435.]
3. Now I am shown the document D-903. It is a 'Receipt
Memo' dated 11.8.1992. Under this Receipt Memo, I have produced
(06) documents to the CBI. It is signed by me and the CBI Officer. Its
contents are correct. [It is marked as Exhibit-436.]
4. Now I am shown the document D-900. It is a 'Receipt
Memo' dated 15.7.1993. Under this Receipt Memo, I had produced
(02) documents to the CBI. It is signed by me and the CBI Officer. Its
contents are correct. [It is marked as Exhibit-437.]
5. Now I am shown the document D-899. It is a 'Seizure
Memo' dated 2.7.1993. Under this Seizure Memo, I had produced
(28) documents to the CBI. It is signed by me and the CBI Officer. Its
contents are correct. [It is marked as Exhibit-438.]
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6. Now I am shown the document D-901. It is a 'Cost Memo'
issued by Mr.Hiten Dalal. It is dated 26.3.1992. It is for the amount
of Rs.27,87,78,371=96. It is in respect of the sale of 9% PFC Bonds to
ABFSL. Without verifying the connecting document I cannot say
whether this transactions has taken place or not. [This Cost Memo
is marked as Exhibit-439.]
7. Now I am shown the document D-902. In view of this
document which is a 'Cost Memo', the transaction appears to be
cancelled. This Cost Memo is prepared by ABFSL and it is in the
handwriting of my assistant Mr.R.V. Shenoy. The endorsement of
'cancelled' made thereon is in my handwriting. [This Cost Memo is
marked as Exhibit-440.]
8. When the delivery of the security does not take place, the
transaction is considered as 'cancelled'. In this case, delivery has not
taken place, therefore I have made the endorsement as 'cancelled'. In
this case, the delivery of the securities was to be received from
Mr.Hiten Dalal. As this Cost Memo (Exhibit-440) is not signed, it
might not have been sent to Mr.Hiten Dalal.
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9. Now I am shown the document D-905/1. It is a 'Cost
Memo' dated 26.2.1992 issued by ABFSL on Standard Chartered
Bank for sale of 9% Tax Free Bonds. It is in respect of the amount of
Rs.42,52,50,000=00. It is signed by Mr.R.V. Shenoy. [It is marked as
Exhibit-441.]
10. Now I am shown the document D-904/1. It is a 'Security
Receipt' issued by ABFSL on 26.2.1992 in favour of Standard
Chartered Bank for the amount of Rs.42,52,50,000=00. It is signed
by Mr.R.V. Shenoy. [It is marked as Exhibit-442.]
11. The BR (Exhibit-442) correspondents with the Cost
Memo (Exhibit-441), as it bears the same number '23728'. This BR was discharged by the Standard Chartered Bank on the receipt of original security.
12. Now I am shown the document 905/2. It is a 'Cost Memo' dated 26.2.1992 issued by ABFSL for sale of 17% NPCL Bond for the value of Rs.48,02,50,000=00. It is signed by Mr.R.V. Shenoy. It was issued initially in favour of Grindlays Bank. Thereafter, the name of Grindlays Bank was scored out and the name of Standard Chartered Bank was written. [It is marked as Exhibit-443.] 4 pw-23.doc ::: Uploaded on - 07/09/2018 ::: Downloaded on - 08/09/2018 01:50:07 :::
13. Now I am shown the document D-904/2. It is a 'Security Receipt' issued by ABFSL on 26.2.992 in favour of Standard Chartered Bank in respect of 17% NPCL Bonds of the value of 48,02,50,000=00. It is prepared by Mr.R.V.Shenoy and signed by me. This Security Receipt is also discharged by the Standard Chartered Bank on receipt of original securities. There is endorsement to that effect of cancelling the same. [This Security Receipt is marked as Exhibit-444.] Cross-examination by Adv. P.G. Sabnis for Accused No.17.
14. Both these transactions of the sale of securities were 'Direct Transactions' and not through the Broker.
Cross-examination by rest of the Accused :-
15. Declined.
16. No re-examination.
17. R.O.A.C. [DR. SHALINI PHANSALKAR-JOSHI, J.] 5 pw-23.doc ::: Uploaded on - 07/09/2018 ::: Downloaded on - 08/09/2018 01:50:07 :::