The court has the power to weigh the evidence to determine if a prima-facie case against the accused has been made out, and the statement of a witness recorded under Section 164 of the Code can be used to corroborate or contradict that witness.

JUDGMENT

Sandeep K. Shinde, J. - This application under Section 397 read with Section 401 of the Criminal Procedure Code questions, the propriety, correctness and legality of the order dated 27th September 2019, by which the learned Sessions Judge, CBI, Greater Mumbai, refused to discharge the applicant from the CBI Special Case No.4/2018.

2. Prosecution case is that, Central Bureau of Investigation, Economic Offences Wing, Mumbai registered the FIR under Section 120B read with Sections 420, 465, 467, 468, 471 of the Indian Penal Code on 31st August, 2017 on the basis of written complaint of Shri. D.G. Kallatti, Deputy General Manager of CBI, against M/s. Ashoka Property Developers and M/s. Ashish Communication Systems, its Directors/Guarantors and thirteen others, including two bankers and the applicant-accused no.11.

3. Complainant would allege, that accused entered into criminal conspiracy in the year 2011 to cheat, the Central Bank of India, Peddar Road Branch, Mumbai, to the tune of Rs.17 crores by creating false and fabricated documents and further dishonestly suppressing material information, in respect of the immovable properties, which were offered as collateral security either by its over- valuation, or otherwise for availing credit facilities and misutilising the same.

4. In, so far as the applicant is concerned, it is prosecution’s case that, he is the owner of M/s. Ahmadabad Express Newspaper. His Press is at Ahmedabad, where eight employees were working with him. One, Ravikumar Ashokkumar Bhil was working as a Office Boy in the Press. The accused, with the malafide intentions instructed, Ravikumar Bhil, to open bank accounts, to manipulate the transactions, for making accommodation entries. Afterwhich, Ravikumar Bhil, opened two bank accounts, in the name of M/s. Ahmedabad Sales Corporation in ING Vyasa Bank and M/s. Hindustan Enterprises. Under the instructions of the applicant, Ravikumar Bhil, used to transfer money in various bank accounts, withdrew cash and hand over to various angadiyas (cash courrier). In that way, prosecution’s case is that, M/s. Aashish Communication Systems, belonged to Ashish Singh (accused no.2), who malafidely availed cash credit limit to the tune of Rs.2.25 crores, overdraft Rs.5 crores and Rs.5 crores as a term loan from the complainant bank. M/s. Aashish Communication Systems transferred huge amount of money to the various accounts, one being the Account opened by Ravikumar Bhil at the instructions of the applicant. Money was transferred from the account of M/s. Aashish Communication Systems in the account of M/s. Ahemdabad Sales Corporation in ING Vyasa Bank. In all Rs.3,23,75,641/- were transferred within a month from the loan amount disbursed to M/s. Aashish Communication Systems in the account of M/s. Ahemdabad Sales Corporation. In furtherance of the conspiracy on 21st December, 2012 amount of Rs.1,35,00,000/- was transferred in the account of the co-accused, Janardhan Pandey and remaining amount was withdrawn in cash and handed over to Satish Sahu, a co-accused.

5. Investigation has unfolded that, the applicant had directed Ravikumar Bhil to open another bank account in the name of M/s. Hindustan Enterprises in Indusind Bank. The said amount was used for siphoning the crime proceeds from M/s. Aashish Communication Systems to the tune of Rs.80,80,000/-. In that way, in investigation, four facts were disclosed;

(i) that though, crime proceeds were credited in the bank accounts of M/s. Ahemdabad Sales Corporation, and M/s. Hindustan Enterprises, these accounts were opened and operated by Mr. Bhil (applicant’s employee) as per the directions of the applicant.

(ii) statement of Ravikumar Bhil recorded under Sections 169 and 164 of the Criminal Procedure Code would disclose the said fact.

(iii)statement of Ganesh Mokal, Assistant Manager of Kotak Mahindra Bank, confirms that money was transferred to the Account of M/s. Ahemdabad Sales Corporation from the account of M/s. Ashish Commu