JUDGMENT

G.N. Ray, J. - The appeals are directed against a common judgment dated December 23,1992 passed by the Calcutta High Court in Cri. R. No. 859 of 1991 and Cri R. No. 1203 of 1991. By the impugned judgment the High Court allowed the said criminal revisions and quashed the Impugned FIR Nos. RC-4/87-SIU (X) dated August 14, 1987 and RC-I(S) /89SIU (X) dated June 12. 1989. The respondent, Duncans Agro Industries Ltd. moved the Calcutta High Court for quashing the said FIRs lodged by the Central Bureau of Investigation.

2. It was inter alia alleged in the FIR dated August 14, 1987 that reliable information was received by the complainant the Superintendent of Police, CBI, SIU (X), New Delhi, that M/s National Tabacco Company which was a division of M/s Duncans Agro Industries Ltd. had cash credit facilities on hypothecation of stocks etc with United Bank of India, Royal Exchange Branch, Calcutta. The ultimate credit facilities limit sanctioned to M/s Duncans Agro Industries Ltd. in the account of M/s National Tobacco Company as on January 12, 1984 was to the tune of Rs. 17.50 crores subject to the drawing power according to hypothecation of raw materials/stocks etc. M/s Duncans