Initially this application had been filed for quashing of the first information report of R.C. Case No. 6(S)/2010A.H.D.R, registered under Section 120B read with Sections 420, 467, 468, 471 of the Indian Penal Code, against the petitioners. Subsequently, on submission of the charge sheet, when cognizance of the offences, as aforesaid, was taken against the petitioners vide order dated 01/02/2011, the said order has been challenged.

2. The case of the C.B.I. is that one written complaint was filed by one Farukh Rashid Bokhari, the then Senior Manager, Allahabad Bank, Zonal Office, Ranchi, alleging therein that petitioner no. 1 Smt. Pushpa Singh, the Managing Director as well as the Directors namely, Saket Kumar Singh (Petitioner no. 2) and Abhijit Kanti Dam (Petitioner no. 3) of M/s Sai Healthways (Incorporation) Private Limited, entered into a conspiracy among themselves and with other persons and in furtherance of the said conspiracy they, on the basis of the forged and fabricated collateral security, induced Officers of Katrasgarh Branch of Allahabad Bank to sanction term loan of Rs. 1,80,00,000/with cash credit limit of Rs. 15,00,000/. The loan was sanctioned for the purp