B. Siva Sankara Rao, J.

The petitioner in both the petitions by name Sri Ch.Lakshmi Narayana, the then Chief Manager of State Bank of India since retired was arrayed as accused No.1 in C.C.No.23 of 2005 pending trial on the file of III Additional Special Judge for CBI Cases, Hyderabad. It is outcome of crime No.RC/11A/2003, CBI, Hyderabad, registered against 8 accused for the offences punishable under Sections 120-B & 420 IPC and Section 13(2) read with 13(1)(d) of the Prevention of Corruption Act (for short 'PC Act'). The charge sheet filed for the above sections against the 8 accused including the petitioner/A.1, not to mention the names of other accused, A.2-C.V.V. Vijay Kumar Naidu, Proprietor of M/s. S.V. Enterprises, A.3-D.M.K. Naidu, Proprietor of M/s. DMK Excavations & Constructions Private Limited, A.4-YSN Reddy, Proprietor of M/s. SN Reddy Enterprises (though shown in FIR not charge sheeted), K. Ashok Kumar, Managing Director of M/s. Suryodaya Hitech Engineering Private Limited (A.5 as per FIR and A.4 as per corrected charge sheet), Sri M. Madhav Vasu, Proprietor of M/s. Timbermatics (A.6 as per FIR but not charge sheeted), Sri C.C. Mukundan Nambiar, retired AGM, SBI, and B. Sudesh Kumar respectively shown in FIR as A.7 & A.8 and because of the corrections in the charge sheet to array as A.5 & A.6.

2. The allegation is that the petitioner/A.1 is conspired with other accused by abusing his official position by corrupt or illegal means in sanctioning bank guarantees to various entities among other accused by causing loss of Rs. 70.50 lakhs to the SBI, Padmaraonagar Branch of Secunderabad in corresponding wrongful gain to other accused viz.,

(2a). BG.No.19/1996-97 dated 23.12.1997 for Rs. 12 lakhs to M/s. S.V. Enterprises (C.V.V. Vijay Kumar Naidu-A.2), on his application to avail raw material assistance from National Small Industries Corporation (for short, 'NSIC'), the bank guarantee sanctioned for such limit favouring NSIC backed by false or forged equitable mortgage of plot No.388 with a house constructed therein located at SCOHB Society, Saidabad, worth Rs. 17.96 lakhs belongs to B.Sudesh Kumar-FIR A.8 and charge sheet A.6. It is averred further that the application for bank guarantee is enclosed with deed of will dated 05.12.1994 signed by B.Srinivasa Rao, father of said Sudesh Kumar, bequeathing said property in his favour and A.2 furnished of trading account, profit and loss account and balance sheet of M/s. S.V. Enterprises for 3 previous years issued by CSN Sarma, Chartered Accountant. It is averred that A.1 knowingly sanctioned the bank guarantee without verifying genuineness and correctness of the entity-S.V. Enterprises and without conducting pre-sanction inspection of properties and without verifying genuineness of the sale deed of properties of ECs and without verifying the end use of funds and disbursed Rs. 12 lakhs, that was failed to repay by A.2 and NSIC invoked the bank guarantee for the A.2 who availed raw material assistance scheme of Rs. 11.16 lakhs from NSIC. It is averred against A.2 that the financial assistance given by NSIC to A.2 of several amounts credited to M/s Aparajita Enterprises, Hyderabad, to its account maintained with Indian Bank, New Nallakunta Branch, Hyderabad, in the name of Vijay Naidu or Vijay Ch. from invoices and delivery challans of it showing A.2 purchased steel products from it and M/s Aparajita Enterprises address shown in 2 different ways revealed that it is a nonexistent entity and did not obtain any trade license from the Municipality and APGST and CST was allotted to SV Enterprises of A.2 located at Bakaram and in the name of M/s Aparajita Enterprises A.2 signed differently and withdrawn the amount credited to M/s Aparajita Enterprises by cheques issued in the name of his wife Smt. C.Lavanya and siphoned off by floating a fake entity M/s Aparajita Enterprises.

(2b). Another bank guarantee No.21/97-98 dated 14.02.1998 for Rs. 12 lakhs issued to S.V. Enterprises on