All the NSCs and KVPs were alleged to be forged and fabricated and were number issued from the Middleton Row and Park Street Post Offices from where they were shown to have been reportedly purchased.
It is found that for the acts of the omissions on the part of the accused persons, entire Term Demand loans became unsecured and inoperative number.
Manager, three term loans were sanctioned by the Regional Office of IOB in August, 1998, October, 1999 and August, 2000 in favour of M s. Tag Reachers P Ltd. for purchase of 13 Nos.
In spite of this and knowing fully well that the amount of the aforesaid term loans were diverted by Shri Jagjit Singh to his restaurant business, Shri Sanjib Kumar Chatterjee, Sr.
The said case relates to CBISPEACBKolkata Case No.
The offences alleged are undoubtedly number compoundable and certainly, of serious nature.
By the impugned order, learned Judge of the High Court allowed the application preferred by the respondent, Jagjit Singh, under Section 482 of the Criminal Procedure Code, 1973 and quashed the proceedings being G.R. Case No.1508 of 2006 pending before the 12th Court of Metropolitan Magistrate, Calcutta.
It is further alleged that on the recommendation of the said Shri Sanjib Kumar Chatterjee, Sr.
All the accounts of parties involved became inoperative, and this resulted in companyresponding wrongful loss to the said Bank.
Manager in the month of March, 2000 for a demand loan of Rs.32.50 lakhs against the security of National Saving Certificate Kishan Vikash Patra of the face value of Rs.50 lakhs.
R.C. 12 A /2003 under Sections 420/471 of the Indian Penal Code.
Similarly, numberlien on them in favour of the IOB were created by the aforesaid two Post Offices.
SUDHANSU JYOTI MUKHOPADHAYA, J. Leave granted.
Manager, Indian Overseas Bank, Shri Jagjit Singh, Director of M s. Tag Reachers P Ltd., Shri Raj Kumar Agarwal, Shri Virendra Jain and unknown officers of the Regional Office, Business Department of Indian Overseas Bank, Kolkata, a regular case was registered against them and the said case was entrusted to Shri B.R. Roy Inspector of Police, CBI, ACB, Kolkata for Investigation.
The First Information Report FIR in question was lodged on the basis of a reliable information which was received in the office of the SP, CBI, ACB, Kolkata to the effect that one Shri Sanjib Kumar Chatterjee while functioning as Sr.
By this appeal, the appellant Central Bureau of Investigation CBI for short has challenged the impugned order dated 31st March, 2010 passed by the High Court of Calcutta in CRR No.719 of 2010.
The Bank suffered a loss of Rs.1.5 crores approx.
Lien were found to be forged and numberBank Officer had in fact ever approached these two Post Offices for the same.
Giving reference to the above said order passed by the Debts Recovery Tribunal the respondent, Jagjit Singh moved an application under Section 482 of Cr.
It has also been disclosed by the said information that though it was the last day of the financial year, Rs.27.25 lakhs out of Rs.32.50 lakhs was transferred to the Term Loan Account of M s. Tag Reachers P Ltd. on 30th March, 2002 itself towards partial adjustments of the aforesaid term loan account whereas the rest of the amount was withdrawn by M s. Tag Reachers P Ltd., Kolkata.
of LPG Tankers 445 respectively without proper verification, documentation and by manipulating exorbitant price of the companylateral properties offered by M s. Tag Reachers P Ltd. The said information has also disclosed that when M s. Tag Reachers Ltd. started defaulting the repayment in the aforesaid term loan accounts, the accused persons companynived together and in pursuance of the said criminal companyspiracy Shri Jagjit Singh as Director of M s. Tag Reachers Ltd. approached Shri Sanjib Kumar Chatterjee, Sr.
Manager, Indian Overseas Bank IGS , Shreemani Market Branch, Kolkata during the year 1998 2000 had entered into a criminal companyspiracy with private persons, namely, Shri Jagjit Singh, Director of M s. Tag Reachers P Ltd. respondent herein , Shri Raj Kumar Agarwal, Shri Virendra Jain and unknown officers of the Regional Office, Business Department of Indian Overseas Bank, Kolkata in order to cause wrongful loss to the said Bank in the matter of term demand loans, in favour of M s. Tag Reachers P Ltd. It was further alleged in the FIR that in furtherance of said criminal companyspiracy, term demand loans amounting to Rs.1,94,50 lakhs were fraudulently and dishonestly sanctioned to the said Company by the Regional Office of Indian Overseas Bank IOB , Kolkata and out of the said amount Rs.1.5 crores remained outstanding due to number payment by the party.
Manager recommended sanction of Demand loan for Rs.32.50 lakhs in favour of M s. Tag Reachers P Ltd. With the help of unknown officials of the Regional Office of IOB, Kolkata a demand loan of Rs.32.50 lakhs was sanctioned in favour of the said companypany on 30th March, 2002.
The said securities were in the form of NSC for Rs.7 lakhs and Kishan Vikash Patra of Rs.18 lakhs standing in the name of the aforesaid Shri Raj Kumar Aggarwal and Kishan Vikash Patra of Rs.25 lakhs standing in the name of the aforesaid Shri Virendra Jain.
