Gauhati High CourtBikash Ranjan Das vs The State Of Assam And Anr on 17 November, 2023Author:Malasri NandiBench:Malasri NandiPage No.# 1/6\n\nGAHC010241612023\n\n\n\n\n                              THE GAUHATI HIGH COURT\n   (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)\n\n                                  Case No. : AB/3643/2023\n\n            BIKASH RANJAN DAS\n            S/O- LATE JYOTISH CHANDRA DAS, R/O- H NO. 12, KAMAKHYA NAGAR,\n            DINESH OJHA PATH, GHY 781005, KAMRUP METRO, ASSAM\n\n\n\n            VERSUS\n\n            THE STATE OF ASSAM AND ANR\n            REP. BY THE PP, ASSAM\n\n            2:THE ASSAM CO OPERATIVE APEX BANK LIMITED\n             REP. BY ITS MANAGING DIRECTOR\n             HAVING ITS OFFICE AT PAN BAZAR\n             GHY- 781001\n             KAMRUP METRO\n            ASSA\n\nAdvocate for the Petitioner   : MR. P K BHUYAN\n\nAdvocate for the Respondent : PP, ASSAM\n\n\n\n\n                                   BEFORE\n                     HONOURABLE MRS. JUSTICE MALASRI NANDI\n\n                                          ORDERDate : 17.11.2023\n\n                    Heard Mr. K.N. Choudhury, learned Senior counsel assisted by\n        Mr. O.P. Bhati, learned counsel for the petitioner. Also heard Mr. M.\n                                                                 Page No.# 2/6\n\nPhukan, learned Public Prosecutor for the State.2.          This is an application made underSection 438Cr.P.C.,\nseeking pre-arrest bail by the petitioner, namely, Bikash Ranjan Das,\napprehending arrest in connection with BI(EO) P.S. Case No.\n31/2023, registered underSection 120B/420/406/409/119IPC.3.         The brief facts of the case is that the Chairman of Assam Co-\noperative Apex Bank Ltd. lodged an FIR before the Director, Bureau of\nInvestigation (E.O.) Government of Assam, stating inter alia that a report\nof financial fraud was committed in the Dispur Branch of Assam Co-\noperative Apex Bank Ltd. by M/s North East Plantations & Commercial (P)\nLtd. in the period between 05.04.2023 to 30.06.2023 by irregularly\ndiscounting 8(eight) numbers of cheques in connivance with certain\nofficials of the said bank thereby fraudulently withdrawing a total amount\nof Rs.20,30,00,000/- (Rupees Twenty Crores Thirty Lakhs) at the expense\nof public deposit held with the bank causing acute loss to the bank's\nexchequer as well as loss of public confidence on security of their\ndeposits held with the bank.4.         It is further stated in the FIR that M/s Northeast Plantations\nand Commercial Private Limited where the petitioner No.1 Rajesh Bajaj is\nthe director has remained a customer of the said bank since the year\n2008. It is alleged that during the period from 05.04.2023 to 30.06.2023,\nthe Director of the said firm with the help of certain officials of the bank\nfraudulently discounted 8(eight) numbers of cheques, totaling an amount\nof Rs. 20,30,00,000/- (Rupees Twenty Crores Thirty lakhs) through\nDispur Branch of the Apex bank in gross misuse of an obsolete Demand\nBill Purchase(DBP) facility, thereby committing a fraud and also cheating\n                                                                   Page No.# 3/6\n\nthe bank at the expense of public deposits held with the bank.\nSubsequently, the petitioner No.1 returned an amount of Rs.80,00,000/-\n(Rupees Eighty Lakhs) only to the bank and has shown no intent to\nreturn the remaining amount of Rs.19,50,00,000/-( Rupees Nineteen\nCrores Fifty Lakhs) to the bank.5.           After the matter came to the notice of the informant,\ninstructions were given to conduct an official level inquiry into the matter\nand on the basis of the outcome of the inquiry, the concerned branch\nmanager of Dispur Branch Sri Bikash Ranjan Das i.e. the present\npetitioner was placed under suspension vide suspension order dated\n14.09.2023 and maximum efforts are being made to recover the\ndefrauded amount which subsequently resulted in filing an FIR at Dispur\npolice Station.6.         Mr. Choudhury, learned Senior counsel for the petitioner has\nsubmitted that on 29.12.2022 the petitioner was working as Branch\nManger of Assam Co-operative Apex Bank, Dispur Branch received a\nletter from the Managing Director of the said bank on behalf of M/s North\nEast Plantations & Commercial (P) Ltd. with an endorsement to advance\na sum of Rs.5 crore as DBP. The petitioner being the BM of the said bank\ninitiated a process to advance the said amount after taking appropriate\nsecurity from the said company. The said company returned the DBP\namount with interest in time for which the bank received of huge profit.7.         It is also submitted that again the petitioner after fulfilling the\ndocumentary process granted a sum of Rs.15 crore to the said company\nwith the approval of the MD, of the bank. The said company again\napproached the bank for another sum of Rs.6 crore under DBP scheme\n                                                                  Page No.# 4/6\n\nbut this time, the MD of the bank did not send the endorsement letter to\nthe petitioner but instructed him oblige the request made by the\ncompany. Then the petitioner on good faith granted the said amount to\nthe company as instructed by the MD of the bank. Thereafter, the said\ncompany had written a letter to the MD of the bank disclosing his\ninability to repay the aforesaid amount i.e. Rs.21 crore and assured that\nhe would repay the entire amount within a short while.8.         It is also the submission of learned Senior counsel for the\npetitioner that the alleged offence entirely based on the documents\nwhich are in possession of the informant's bank and no further\ndocumentary evidence are required to be collected and in view of that\nmatter, the custodial interrogation of the petitioner is not necessary.9.          In response, Mr. Phukan, learned Public Prosecutor for the\nState has vehemently objected to the prayer of the petitioner by stating\nthat the petitioner is very much involved in the present case. There is\nsufficient incriminating materials found in the case diary against the\npetitioner. He pointed out that the matter involves allegation of financial\nfraud in the bank. M/s North East Plantations & Commercial (P) Ltd. has\ncommitted such financial fraud with the help of the present petitioner. On\nthe prayer of the said company, petitioner disbursed the amount in favor\nof the company without any visible vouchers so prepared relating to\nissue/transactions of DBP. And the Branch had not prepared any voucher\nfor the transactions of the said DBPs. The entries have been made found\nin the system directly. All the entries relating to issue of the said DBPs\nwere found entered and authorized by the Branch Manager.10.        It is also the submission of learned Public Prosecutor that to\n                                                                   Page No.# 5/6\n\nfacilitate the directors of M/s North East Plantations & Commercial (P)\nLtd. and to take undue advantage of getting more than 20 crore as DBP,\nthe petitioner has violated the administrative circular of the bank. Since\nall those cheques were found undated and were incomplete, so\ndiscounting of those cheques are totally illegal.11.        On the last limb of argument, learned Public Prosecutor has\nsubmitted that as the petitioner was the Branch Manager of the said\nbank at the relevant time, his name has come out during investigation\nand his interrogation might also be required for the interest of the case.\nThe investigation is still going on and at the nascent stage of\ninvestigation, the learned Public Prosecutor has opposed in granting bail\nto the petitioner.12.        In support of his submission, the learned Public Prosecutor for\nthe State has placed reliance on the following case laws-(i)     Nimmagadda Prasad v. Central Bureau of Investigationreported in (2013) 7 SCC 466.(ii) Alagarsamy & Ors. v. State represented by Deputy\n                   Superintendent of Police, Madurai, reported in (2010) 12\n                   SCC 427.13.         I have considered the submissions made by the learned\ncounsel for the parties. I have also perused the case diary.14.        On perusal of the case diary, it reveals that the petitioner being\nthe Branch Manager of the said bank played major role for committing\nthe financial fraud as alleged in the FIR. The investigation is not yet\ncompleted and it is a serious fraud against the financial institution.Page No.# 6/615.            For the foregoing reasons, this Court impelled to hold that a\n       clear case of fraud is prima facie made out. Such financial frauds deserve\n       to be properly investigated to unmask the identity of the persons privy\n       thereto, the real beneficiaries of the fraud and if possible, trace the\n       money which has been siphoned off. Custodial interrogation of the\n       petitioner is, therefore, warranted.16.        It is clarified that the observations made aforesaid are confined\n       to determine entitlement of pre-arrest bail only. In an overview of the\n       matter, this Court is of the considered view that the petitioner is not\n       entitled to the concessions of pre-arrest bail. Hence, prayer for pre-\n       arrest bail is rejected accordingly.17.        The pre-arrest bail application stands disposed of.18.        Return the case diary.JUDGE\n\n\n\nComparing Assistant