JUDGMENT

S.B. SINHA, J :

1. Leave granted.

2.Respondent No. 2 is a former Chairman-cum-Managing Director of Dena Bank. He is presently the Chairman and Managing Director of Bank of Baroda, Mumbai. Respondent Nos. 3 to 11 are Directors of Dena Bank. Appellant is a Director of Nagami Nicotine Pvt. Ltd. (hereinafter referred to as "the Company"). He had transactions with the said Company. He had taken loan from Dena Bank. As loans were not paid, admittedly, an original application was filed against him before the Debts Recovery Tribunal, Ahmedabad for recovery of a sum of Rs. 120.13 lakhs from the Company.

3. The Bank floated a public issue of 8 crores equity shares of Rs. 10/- each for cash at a premium of Rs. 17/- i.e. at a price of Rs. 27/- each. Prospectus was published for the purpose of public issue and therein some false and misleading information had been given with regard to sanction limits, the dues and export bills of the Company. It was alleged that the Company had committed an offence punishable under Sections 120B, 425, 191, 192, 177, 181 as also 500 of the Indian Penal Code. A criminal complaint was filed before the Chief Judicial Magistrate, Vadodara by the appe