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IN THE HIGH COURT OF DELHI
RAJNISH BHATNAGAR, J.
Ashughosh Kumar Nirmal – Petitioner
Versus
Central Bureau of Investigation – Respondent
Crl.Rev.P. No. 323 of 2020
Decided On : 05-02-2021
Valuation Report - Criminal Conspiracy - Cr.P.C 397, 401, 482 - [397, 401, 482] - The court discussed the allegations against the petitioner, who is a registered valuer, regarding inflated valuation reports prepared for mortgage properties offered by the borrowers. The court analyzed the arguments of both parties regarding the authenticity and reliance on the valuation reports, the involvement of the petitioner in the conspiracy, and the discrepancies between the valuation reports prepared by the petitioner and independent valuers. The court upheld the impugned order on charge, dismissing the revision petition.
Fact of the Case:
The petitioner, a registered valuer, was alleged to have prepared inflated valuation reports for properties offered for mortgage by the borrowers, facilitating the illegal sanction of a loan.
Finding of the Court:
The court upheld the impugned order on charge, finding no infirmity in the charges framed against the petitioner.
Issues: The issues revolved around the authenticity and reliance on the valuation reports, the involvement of the petitioner in the conspiracy, and the discrepancies between the valuation reports prepared by the petitioner and independent valuers.
Ratio Decidendi: The court has the power to shift and weigh the evidence at the stage of framing of charge to determine whether a prima facie case against the accused has been made out. The court should exercise caution in quashing criminal proceedings and should not unduly interfere with the prosecution's case.
Final Decision: The court upheld the impugned order on charge, dismissing the revision petition.
JUDGMENT :
1. By this order, I shall dispose of the present revision petition U/s 397 Cr.P.C R/w Section 401 Cr.P.C R/w Section 482 Cr.P.C. filed by the petitioner seeking setting aside of the impugned order on charge dated 23.11.2019 and the charge dated 21.12.2019, passed by Ld. Spl. Judge CBI, Rouse Avenue Courts, New Delhi.
2. In brief, it is stated that petitioner is a registered valuer and is running his sole proprietorship firm in the name and style of M/s Satguru Valuers. According to the prosecution, Raj Kumar Karanwal, is the Director of M/s Lancer Healthcare Pvt. Ltd. and proprietor of M/s R.S. Distributors and Manish Kumar Karanwal is the Director of M/s Lancer Healthcare Ltd. and proprietor of M/s Manish Kumar & Company. In the month of February 2013, Raj Kumar Karanwal met one Y.P. Singh, Chartered Accountant and there they discussed the matter of loan to Raj Kumar Karanwal from some banks. Sometime in the month of March, 2013 Raj Kumar Karanwal, Y.P. Singh and S.K. Verma discussed the matter of loan in the office of Raj Kumar Karanwal who informed them about his various CC Limits and deposits of his various properties title deeds with the banks.
3. The allegations in the charge sheet against the petitioner Ashugosh Nirmal, M/s Satguru Valuers, Delhi, on Panel Corporation Bank are that the property of Karanwal’s were assessed by him vide valuation report No. SV/IP/CB/166/13 and SV/IP/CB/166/16 even before the actual application by Karanwal’s was moved to Corporation Bank, Vasant Vihar, New Delhi. The petitioner claimed that he had prepared the valuation report on the asking of Corporation Bank, Branch Manager, Aali Gaon but the record shows that report was never deposited with Aali Gaon and was deposited in Vasant Vihar Branch of the bank. It is also alleged against the petitioner that the properties valued for mortgage against combined loan for M/s Lancer Healthcare Pvt. Ltd., M/s Manish Kumar and company and M/s R.S. Distributors were Plot No. 1, 2, 3 and Nagar Nigam No. 4729, Village Nasarpur, Pargana Loni, Tehsil and District Ghaziabad UP on which Ruby Hotel and Banquet is constructed. It is alleged that M/s Satguru Valuers falsely exaggerated/inflated the value and valued the properties at Rs. 42,71,60,100/-. It is further alleged that another property Plot No. 1/18, First Floor, Kirti Enclave, Model Town, Tehsil & District Ghaziabad (flat) was also falsely exaggerated/inflated by the petitioner and he valued the same at Rs. 84,94,200/-. Therefore, it is alleged against the petitioner, who is the proprietor of M/s Satguru Valuers that he joined conspiracy with co-accused Raj Kumar Karanwal and others and facilitated him to take loan illegally by highly inflating the value of the properties offered by co-accused Raj Kumar Karanwal against the CorpVyapar OD Limit Loan in the name of M/s Lancer Healthcare Pvt. Ltd., M/s Manish Kumar & Co. and M/s R.S. Distributors, from Corporation Bank.
4. It is urged by the Ld. counsel for the petitioner that the charge is erroneous as the allegation of conspiracy is not supported by the statement of witnesses or the material filed alongwith the charge sheet. Ld. Sr. Counsel further urged that all the transactions are purely business transactions done through the bank accounts and there is nothing to suggest that the transactions were tainted in nature. Ld. Sr. counsel for the petitioner further urged that the alleged valuation report No. SV/IP/CB/166/13 was never submitted by the petitioner in Vasant Vihar Branch, which is apparent from the said valuation report and it was submitted at Aali Gaon Branch of Corporation Bank, while the internal page No. 1 of each of valuation report shows that at the top right hand side of the valuation report Aali Gaon has been removed by use of fluid. Ld. Sr. counsel further urged that the other valuation report No. SV/IP/CB/166/16 does not even exist and the valuation report which has been filed on record by the respondent bears the number SV/IP
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