ORDER :

1. This appeal is directed against the judgment and order passed by the High Court of Karnataka in Criminal Appeal No. 2702 of 2006, dated 14.12.2007 whereby and whereunder the High Court has upheld the order of conviction but modified the order of sentence passed by the Trial Court in Spl. C.C. No. 72 of 2002, dated 02.12.2006.

2. The prosecution's case is as follows :

The appellant (accused No. 1 before the Trial Court) was employed as the Senior Branch Manager of Vijaya Bank, Vanivilas Road Branch, Bangalore and was empowered with the discretionary power of granting loans, including overdraft facilities to the extent of Rs.50,000/-. Accused No. 2 was a first class Civil Contractor and had applied for credit facilities to the said branch of Vijaya Bank in relation to a contract for the construction of a parallel taxi-track and Apron-1 at HAL Airport, Bangalore awarded by the National Building Construction Corporation Ltd., Bangalore (for short, "the Corporation"). It is alleged by the prosecution that the two accused entered into a criminal conspiracy with the object of cheating Vijaya Bank. In furtherance of the said conspiracy, accused No. 2 applied for credit facility of