Deoki Nandan Prasad, J.

1. This application under Section 482 of the Code of Criminal Procedure has been filed for quashing the criminal proceeding initiated against the petitioner in connection with Case No. RC 2(A)/96(D) including the Order dated 11.2.2000 passed by the Special Judge. CBI Dhanbad, whereby and whereunder he took cognizance for an offence under Section 120B and 420 of the Indian Penal Code and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act.

2. The short facts giving rise to this application that the First Information Report was lodged alleging therein that during the period 1992-94 the accused-persons including the petitioner entered into a criminal conspiracy and in pursuance of the same the then Senior Manager, Vijya Bank, Shri Rat nakar Megde dishonestly and fraudulently, by abusing the official position, allowed credit facilities to the Directors of M/s. Continental Transport and Construction Company. It is further alleged that the Bank during the said period of 1992-94 allowed the payment to the tune of Rs. 20.16 lakhs (approximately) against the 4th Running Account bill raised by the petitioner against the contract of installation of one Feeder Breaker at G.O.C.P.. Bastacolla Area-II of BCCL Dhanbad. by discounting the said bill amounting to about Rs. 22.40 lakhs. It is also alleged that the said amount of Rs. 22.40 lakhs was payable to the Vijay Bank, Dhanbad but the petitioner was allowed to realise the bill proceeds of the said bill directly from BCCL which was deposited in a different Bank Account and thereafter encashed, thereby causing wrongful Jose and by entering into the conspiracy misappropriated a huge amount. The Director to M/s. petitioner Company collected the bill proceeds from Area No. IX of BCCL through Cheque No. 440284 dated 19.4.1994 and encashed the said amount being Rs. 22.40 lakhs in the account of M/s. CTCC maintained at SBI, Ramgarh Cantonment.

3. Accordingly, the FIR was lodged. The CBI Investigated into the case and submitted charge-sheet against the accused persons including the petitioner.

4. The Special Judge, after hearing both sides and perusing the record took cognizance by the order impugned finding prime facie case for the offences mentioned above.

5. The opposite party (CBI) filed the counter affidavit claiming therein that (hen-is no illegality in the order impugned as Shri M.P. Singh. Area Finance Manager of Bastacolla, BCCL Dhanbad got a letter issued with the connivance to the Branch Manager of Dhanbad at 19.3.1994 served with a bill has been passed for payment of Rs. 22,40,1 06.72 ps in favour of the petitioner and the copy of the said letter was sent to the petitioner by the said accused as well as on 19.3.1994 one of the Directors of the petitioner had sent letter to the Area Finance Manager on the same day instructing him to pay the amount of bill. It is further claimed that it was not correct that whole amount payable with interest to the Bank was paid by the petitioner in between 1.10.1994 to 22.11.1994, rather it was adjusted in piece meal in between 16.8.1994 to 22.11.1994 and after calculation it was found that an amount of Rs. 44,340/- is still outstanding against S.B.P./O.D./1994. The Bank has also clarified that the account of the petitioner was non performance assets account under substandard assets on 31.3.1999 w.e.f. 30.9.1998 owing to the over dues bills and there is prima facie case made out against the petitioner and as such the petition is fit to be dismissed.

6. A reply to the counter affidavit has been filed by the petitioner stating the same facts more or less. The opposite party also again filed reply thereof, reiterating the same position, as stated in counter affidavit.

7. The learned counsel appearing on behalf of the petitioner submitted at the very outset that by letter dated 28.2.2000 submitted, the petitioner to the Senior Manager, Vijaya Bank. Dhanbad requested for serving the correct factual position re