State vs . Arvind Johri & Ors. on 18 October, 2022
14.3. A3 further narrates that in February 2001, he shifted to Mumbai
because of medical condition of his wife, his fatherinlaw also suffered acute
cardiac problem and he could not leave Mumbai and for the purposes of
operation of business certain cheques and documents were to be signed which he
signed and it was Mahan Mukherjee who had conducted the entire business.
Later Arvind Johri, was appointed CEO without his consent and knowledge and
when he was inquiring about the business, it was assured that Arvind Johri, had
vast business experience and there will be reimbursement of investment made
by Rajendra S. Raikwar. Later, Mahan Mukherjee told that entire funds of the
CC No. 06/12 & ID No. 64/19 Page 38 of 402
State vs. Arvind Johri. & Ors Judgment dt.18.10.2022
company are stuck and he also negotiated with the bank to get loan to make
purchases for export order and then he (Rajendra S. Raikwar) was asked that in
order to do certain formalities he had to sign the loan papers and accordingly
bank account was opened and loan papers were signed by him under the
instructions of Mahan Mukherjee but he remained in Mumbai. In this way, loan
was procured from Bank till March 2003 by accused Mahan Mukherjee, accused
Rajendra S. Raikwar was just assisting to come out from the crunch and he
never felt any foul play as well as Arvind Johri, never informed him about the
affairs of the firm. Whenever he called Mahan Mukherjee and Arvind Johri,
there was standard reply that since he was not involved in the business as well as
his share of investment is going to be returned, he should not bother further.
When CBI started the investigation in March 2004, then he realized what
actually had happened. He did not opt for defence evidence.
14.4. A8 K.B. Relan, Branch Manager was also asked about the adverse
circumstances appearing against him. There are composite replies, some
circumstances were admitted to be correct. There was reply that he has no
personal information and knowledge about other facts or he cannot say anything
about some other circumstances vis a vis he has relied upon certain circulars of
the bank and they have been referred repeatedly.