Delhi District Court
Cbi vs . R. K. Jain & Ors. on 1 September, 2010
-1-
IN THE
COURT OF SH. AMARNATH
SPECIAL JUDGE : CBI : ROHINI: DELHI
RC NO. -BD-1/2003/E0008-BS&FC/New Delhi
CC NO. 13/10
CBI VS. R. K. JAIN & ORS.
ORDER ON SUMMONING
Present :Sh. Amrit Pal, Singh, Ld. PP for the CBI.
The prosecution version as unfolded during investigation is as under :-
1.It was alleged in the FIR that Sh.R.K.Jain worked as Br. Manager of Anand Vihar Branch of Punjab National Bank during the period 20.1.2001 to 31.5.2001 whereas R.K.Verma worked as Officer(Loans) at the said branch during the period 1.7.2001 to 31.5.2003. They entered into criminal conspiracy during September 2002 to May 2003 with accused persons with the object to defraud Pubjab National Bank,Anand Vihar,Delhi to the tune of Rs.301 Lacs in the matter of sanction/release of cash credit(hypothecation) limits and cheque purchase facilities to the firms controlled by Niranjan Kumar Nangia.
CBI Vs. R.K. Jain & Ors.
-2-2. It was further alleged that Sh.R.K.Jain and Sh.R.K.Verma sanctioned a sum of Rs.2 Lacs each to S/Sh.Vijay Kumar Rana and his sons Deepak Kumar Rana, Chandan Kumar Rana, Vicky Kumar Rana for purchase of second hand cars from Smt.Veenu Nangia wife of Niranjan Kumar Nangia, Ms. Divya Nangia daugther of Niranjan Kumar Nangia, Kamal Kumar Nangia respectively who had earlier availed finance from Bank of Punjab Ltd. against the said cars without liquidating the due amount.
3. Between November 2002 to May 2003, Niranjan Kumar Nangia, his wife, son and a daughter along with his business associates Vijay Kumar Rana along with his sons entered into a criminal conspiracy with Sh.R.K.Jain, the then Br.Manager and Sh.R.K.Verma, the then officer(Loans), Anand Vihar Branch, Punjab National Bank with the intention to defraud the bank by getting four car loans sanctioned and released on the basis of false & fabricated documents.
4. Santro car bearing no. DL 3CS 0374 was purchased by Kamal Kumar Nangia on 27.11.2000 from M/s Nimbus Motors Pvt. Ltd, Sector-5, Noida and the same was got financed from the Bank of Punjab, Green Park, New Delhi under the hypothecation. Copy of the sales invoice handed over by M/s Nimbus Motors Pvt. Ltd showed that this car was financed by Bank of Punjab Ltd but Kamal Kumar Nangia(A5), Niranjan Kumar Nangia(A3) submitted forged sale invoices, sale certificates purported to have been issued by M/s Nimbus Motors Pvt. Ltd, CBI Vs. R.K. Jain & Ors.
-3-Noida and obtained a registration certificate from the RTO showing that this vehicle was not hypothecated to any bank. This car was sold by Kamal Kumar Nangia to Vicky Kumar Rana after getting the finance in the shape of Car loan of Rs.2 Lacs on 31.12.2002 from the Punjab National Bank, Anand Vihar Branch, Delhi and requested the RTO, Sheikh Sarai, Delhi for transferring the vehicle in the name of Vicky Kumar Rana vide letter dated 1.1.2003. As per RTO records, the vehicle stands in the name of Sh.Nitin Luthra which was transferred in his name on 9.1.2003 and hypothecated to Standard Chartered Bank. Moreover, the photocopy of the Registration Certificate available with PNB, Anand Vihar Branch does not show any hypothecation to any bank. Documents handed over by PNB, Anand Vihar, Delhi do not contain any correspondence from the said branch with the Transport Authority reflecting hypothecation in the bank. This car loan was adjusted on 24.5.2003 by depositing cash and settled the car loan account from PNB, Anand Vihar, Delhi. Vicky Kumar Rana obtained loan from PNB, Anand Vihar, Delhi by falsely showing that the vehicle is not hypothecated to any bank and R.K.Jain and R.K.Verma, the bank officers sanctioned the loan without proper scrutiny and any security.
5. Santro car bearing RC no. DL 3C S 0969 was purchased by M/s Divya Nangia from M/s Nimbus Motors Ltd. Sector-5, Noida after getting financed from the Bank of Punjab, Green Park Branch, New Delhi. The Bank of Punjab, Green Park, New Delhi had produced the copy of RC showing the hypothecation of car loan. But the photocopy of sale invoice of M/s Nimbus Motors Pvt. Ltd with the CBI Vs. R.K. Jain & Ors.
-4-RTO Sheikh Sarai does not resemble with the carbon copy provided by M/s Nimbus Motors Pvt. Ltd. Even the copy of Registration Certificate available with the bank file does not show that the car has been hypothecated to the Bank of Punjab, Green Park. The aforesaid car was purchased by Deepak Kumar Rana on 26.11.2002 from Ms. Divya Nangia by availing car loan of Rs.2 lakhs from PNB, Anand Vihar, Delhi but this loan has not been adjusted. PNB, Anand Vihar Branch, Delhi did not make any request to RTO, Sheikh Sarai for hypothecation of car to its branch. Accused R.K.Jain(A1) disbursed Rs.50,000/- more to Deepak Kumar Rana(A8) over and above the sanctioned amount. Hence, a sum of Rs.2,19,411/- is outstanding in this account.
6. Santro car bearing no. DL 3C S 0968 was purchased by Nirajan Kumar Nangia from M/s Nimbus Motors Pvt. Ltd, Sector-5, Noida in December 2005 after getting the financed from Bank of Punjab, Green Park, New Delhi but the photocopy of sale invoice submitted to RTO, Shiekh Sarai was different from carbon copy of sale invoice issued by M/s Nimbus Motors Pvt. Ltd. Sh.Sanjay Behl authorised signatory of M/s Nimbus Motors Pvt. Ltd has denied his signatures on the photocopy of sales invoice. Photocopy of form no. 16 available in the file of RTO Sheikh Saria showed that this card was sold to Sh.Virender Pal Singh on 7.11.2001 and the same was financed PNB, South Extension, New Delhi. Copy of letter for requesting transferring of ownership of vehicle in the name of Sh. Virender Pal Singh and the hypothecation of the same to PNB, South Extension, New Delhi is available in the bank. Niranjan Kumar Nangia CBI Vs. R.K. Jain & Ors.
-5-dishonestly sold this car to Chandan Kumar Rana on 31.12.2002 as the same was financed by PNB, Anand Vihar, Delhi. R.K.Jain and R.K.Verma dishonestly sanctioned the loan without proper verification. This car loan has been adjusted by depositing cash as there has not been loss to PNB, Anand Vihar Branch, Delhi.
7. Santro car bearing no. DL3C S 2168 was purchased by Smt.Veenu Nangia wife of Niranjan Kumar Nangia(A3) from M/s Nimbus Motors Pvt. Ltd. Noida in December 2005 with the finance from Bank of Punjab Ltd. Green Park, New Delhi. Photocopy of sale invoices submitted to RTO, Shiekh Sarai, Delhi neither contained the name of Bank of Punjab Ltd. as financer nor did tally with the carbon copy of the invoice.
8. Smt. Veenu Nangia sold this car to Vijay Kumar Rana who availed car loan from PNB, Tolstoy Marg branch, new Delhi. Not only this, this car was again sold by Smt. Veenu Nangia to Vijay Kumar Rana on 21.11.2002 and this was financed by PNB, Anand Vihar, Delhi. Photocopy of registration certificate available with the PNB, Anand Vihar neither showed any hypothecation on the car to bank of Punjab Ltd. sale and purchase agreement is also not available in the file. This loan was adjusted by depositing cash on 30.5.2003, so there has not been any loss to PNB.
9. Smt. Veenu Nangia sold this car to Vijay Kumar Rana who availed car loan from PNB, Tolstoy Marg branch, new Delhi. Not only this, this car was again CBI Vs. R.K. Jain & Ors.
-6-sold by Smt. Veenu Nangia to Vijay Kumar Rana on 21.11.2002 and this was financed by PNB, Anand Vihar, Delhi. Photocopy of registration certificate available with the PNB, Anand Vihar does not show any hypothecation on the car to bank of Punjab Ltd. sale and purchase agreement is also not available in the file. This loan was adjusted by depositing cash on 30.5.2003, so there has not been any loss to PNB, Anand Vihar Branch, Delhi.
10. Aforesaid circumstances make it clear that R.K.Jain and R.K.Verma(Loans), PNB, Anand Vihar, Delhi had facilitated the other accused persons to obtain car loans by flauting the norms viz., car loans were advanced to four members of the same family who had purchased cars from another family without conducting the proper pre-sanction appraisal and all the cars were hypothecated to Bank of Punjab Ltd. without ensuring about the creation of hypothecation in the records of RTO. Copy of registration certificate shows that bank's charges and transfer of cars in the borrowers name is not on record in respect of any of the four cars. Car loan of Vicky Rana was adjusted on 31.3.2003 by debiting CC account of M/s Oberoi Marketing, Proprietorship concern of Chandan Kumar Rana(A10). Neither the agreement to sell nor old RC, even the name of the guarantor has been proposed in both the accounts. Thus, the loan applications are incomplete. Information about guarantor and paper regarding the handing over of vehicle to the owner are either blank or missing. No original documents were obtained by the accused bank officials in criminal conspiracy with other accused persons. The cars which already financed by other bank were refinanced by accused bank CBI Vs. R.K. Jain & Ors.
-7-officers in furtherance of criminal conspiracy with accused private persons. Hence, they dishonestly and fraudulently sanctioned car loans to their co-accused (private persons) to which loans could not have been sanctioned. Necessary sanction as contemplated U/s 19(1) of the Preventioin of Corruption Act for prosecution of R.K.Jain & R.K.Verma being public servants are available on record.
11. Sufficient material exists to proceed against the accused persons. I, therefore, take cognizance against S/Sh.R.K.Jain(A-1), Br. Manager and Sh.R. K. Verma (A-2) Officer(Loans) Punjab National Bank, Anand Vihar, Delhi, Niranjan Kumar Nangia(A-3), Smt.Veenu Nangia(A-4), Sh.Kamal Kumar Nanglia(A-5), Ms. Divya Nangia(A-6), Sh.Vijay Kumar Rana(A-7), Sh.Deepak Kumar Rana(A-8), Sh.Vicky Kumar Rana(A-9), Sh.Chandan Kumar Rana(A-10), Sh.R.K.Jain (A-1) for the offences punishable U/s 120-B IPC r/w 420/467/468/471 IPC & Sec. 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988 besides further substantive offences under Section 13 (2) r/w 13(1) (d) of PC Act against accused R.K. Jain & R.K. Verma only. All the accused persons above named be summoned for 16.10.2010 in accordance with law.
Amar Nath Spl. Judge : CBI-II Rohini : Delhi : 01.09.2010.
CBI Vs. R.K. Jain & Ors.