JUDGMENT :

1. Heard learned counsel for the petitioner and learned counsel for the respondent-CBI.

2. The petitioner by this writ petition challenges the order dated 27/9/2019 passed by the Special Court for CBI at Greater Bombay in discharge application Exhibit 193 in CBI Special Case No.4 of 2018.

3. There are in all fourteen accused. The petitioner is the accused no.3 in the charge-sheet. The prosecution case in brief is as follows:-

The CBI, EOW, Mumbai had registered the case bearing No. R.C. 14/E/2017/CBI/EOW/Mumbai dated 31.08.2017 for the offences punishable under Sections 120-B of Indian Penal Code (for short ‘IPC’) r/w Sections 420, 468, 468, 411 and 471 of IPC and Sections 13(2), 13(1)(d) of Prevention of Corruption Act against present petitioner and other accused on the basis of written complaint received from D.G. Kallatti, the DGM of Central Bank of India against M/s. Ashok Property Developers and M/s. Aashish Communications System and its Director/Guarantor. It is the case of the prosecution that the accused entered into criminal conspiracy in the year 2011-12, cheated the Central Bank of India, Peddar Road Branch, Mumbai and Mumbai Main Office, Mumbai of its funds to the tune of Rs.17 Crores. By creation of false and fabricated documents, the accused misutilized the credit facility suppressing material information. The accused offered immovable property as collateral security by over valuating it for availing credit facility. The petitioner failed to exercise due diligence and caution while processing and sanctioning the loan which worked to the advantage of the borrowers.

4. The petitioner, at the relevant time, was the Assistant General Manager of the main branch at Mumbai. In the summary of the charge-sheet and the final report the role of the petitioner is spelt out which is thus:-

(I) That Sh. Arvind Atma Sethi (A-3) was functioning as Head of the Branch, Mumbai Main Office branch of Complainant i.e. Central Bank of India during the relevant period. While he was working as Branch Head, he had fraudulently processed and forwarded the loan application pertaining to M/s Aashish Communication Systems. During this process he intentionally with an intend to help the accused firms, avoid the pre-sanction inspections. Similarly, he did not obtain the credit status report, knowing that the credit worthiness of the accused firms as well as proprietors of the firm. He considered inflated valuation report submitted by Sh. Hitendra Virendra Gangwar (Accused/Suspect) knowing that the value of the collateral property is much lesser than the value arrived by the Sh. Hitendra Virendra Gangwar (Accused/Suspect). The end use of the loan proceeds were also not monitored and allowed non underlined business dealings.

(II) Thus, the Central Bank officer/Public Servant Sh. Arvind Atma Sethi (A-3) had abuse of official position and entered into a criminal conspiracy with other accused persons Sh. Ashok Kumar Singh (A-1), Sh. Aashish Kumar Singh (Accused/Suspect), Sh. Mehul Pandey (Accused/Suspect), Sh. Janardhan Durgaprasad Pandey (Accused/Suspect) and others committed an offence of cheating to the complainant bank for tune of Rs. 17 Core was serious in nature and due to this Bank has suffered financial loss.

5. In the affidavit-in-reply, the role of the petitioner is spelt out in detail. The same is reproduced thus :-

Role of Accused Mr. Arvind Atma Sethi the then AGM of the Complaint Bank

(i) Applicant/accused Arvind Sethi in M/s Ashish Communications Systems, the main charges were as follows. The proposal for sanction of credit facilities to the tune of Rs. 25.00 Crore was processed by him. He failed to observe the lending norms, before submission of the proposal for sanction, he failed to ensure that due diligence, pre sanction inspection of the business as well as of property offered as security is conducted. The valuation done by the valuer M/s. Rachana Valuers & Surveyors is on the higher side. Mr. Sethi, violated the terms of sanc