Bank had
assured defendant nos.1 and 2 to grant temporary overdraft
facility and the banker would make payment to the supplier's
banker ... obtained the signatures of
defendant no.2 on the documents for temporary overdraft
facility, defendant no.4 failed and neglected to honour its
obligation
Bank. Accused No.1 also allowed
accused No.2 to avail Temporary Overdraft Facility (for
short 'TOD') and local cheque discounting facility although
stated that only on a letter of a customer temporary overdraft facility
could be extended. Entries had to be made in A.D.1 with ... head office relating to grant of temporary overdraft
facility. In cross-examination he stated without a specimen signature
card no current account could be opened
proprietor of M/s. Vee Kay
Pictures and availed temporary overdraft facility from UCO Bank,
chandni chowk branch, Delhi, from time to time ... which was never effected
upon him. Accused claimed that he had temporary overdraft
facility from the bank and this fact was concealed
Cb I vs . 1 Sh. S Satish Kumar S/O Sh. P C Rao, on
Cbi vs 1. Om Prakash Sharma on 24 August, 2013
Om Prakash Sharma etc. Judgment
terms of criminal conspiracy, accommodation cheques were
purchased indiscriminately and temporary overdraft facility had been granted
much beyond the discretionary powers. As per the banking ... pertains to purchase of cheques beyond discretionary
power and grant of temporary overdraft beyond discretionary powers only.
ROLE OF BOTH THE BANK OFFICIALS
huge credit facilities in
the form of :
"(1) Letter of Credit (LC);
(2) Open Cash Credit (OCC)
(3) Secured- Temporary Overdrafts
debiting the current account of the company
and creating a temporary overdraft of Rs.3697 lakh in its
current account and remitted the funds ... facilities
to the borrowing firm. Oral evidence was also available to
establish that it was he, who was instrumental in authorizing the
temporary overdraft
with Syndicate Bank, Gugai Branch, Salem and applied for a secured overdraft of Rs.10 lakhs on 30.04.2004 for developing the Jewelery business by offering ... abusing their official position had processed and sanctioned Secured overdraft facility of Rs.24.75 lakhs on 22.01.2004 in favour of M/s Roshini Silvers
