IMPORTANT POINT
Prima facie evidence is sufficient to proceed with criminal proceedings, and the veracity of the allegations should be determined in trial.

JUDGMENT :

Heard Mr. Pandey Neeraj Rai, Mr. Anil Kumar, Sr. Advocate and Mr. Vikash Pandey, the learned counsels appearing on behalf of the petitioner, the respondent C.B.I. and the intervenor/informant-RITES Ltd. as the application filed by the intervenor was allowed by the order dated 28.6.2013 in I.A. No.620 of 2010, respectively.

2. The petitioner has prayed for quashing of the entire criminal proceeding in connection with R.C B.D 01/2005/E0006 for the offence under sections 420, 467, 468, 471 and 120B of the IPC including the order taking cognizance dated 5.12.2008, pending in the court of learned Sub Divisional Judicial Magistrate, Ranchi.

3. The case was registered by the C.B.I on the information by RITES Ltd alleging that the petitioner has not filed any other application for the same self relief earlier before this Hon'ble Court or any other court. That the case of the prosecution in narrow compass is that one Mr. M.D. Jhoshi, Joint Manager, Vigilance, informed the D.I.G. of Police, C.B.I. that Jharkhand State Electricity Board (JSEB) awarded the work of Rural Electrification in favor of RITES Ltd. at a total cost of Rs.300/- Crores vide Agreement No. 01/RE/JSEB/03-04 to 10/RE/JSEB/03-04. RITES Ltd., in turn, sub-contracted the work to M/s. Ramjee Power Construction Ltd., Kumar Niwas, Bright Lane, Koker, Ranchi (RPCL) at Rs.276.5 Crores vide Agreement Nos. 01/ RE/RITES/ 03-04 to 10/ RE/ JEITES/ 03-04. It is further alleged in the FIR that in terms of the provision of agreement executed between the RITES Ltd. and M/s. RPCL bank guarantees were required to be submitted by M/s. RPCL on account of security deposit at the rate of 5% of Rs.277.5 Crores which comes to the tune of Rs.13.875 Crores of contract amount in the form of Bank Guarantee at the time of signing of agreement. The M/s. RPCL submitted the bank guarantee of Rs.15,91,02,019/- to RITES Ltd. as cover for security deposit and M/s. RPCL also submitted bank guarantee for Rs.16,80,48,772/- to RITES Ltd. as cover for mobilization advance. All the aforesaid bank guarantee were submitted by Sri A.K. Singh, CMD of M/s. RPCL & Sri D. K. Das, Construction manager, RPCL. The further case of the prosecution is that upon receipt of bank guarantees from M/s. RPCL, confirmation was obtained by RITES Ltd. from Bank of India who issue the said bank guarantees vide their various letters of confirmations. It is further alleged that receipt of confirmation of Bank of India the aforesaid Bank guarantee were issued by them and the net value of mobilization advance which come to the tune of Rs.16.8 Crores was paid to M/s. RPCL. On being checked with Bank of India, Club Side, Ranchi, regarding error in date in one of the Bank guarantee i.e. CBS: BG:/04-05: 30/25, it has been informed by the Bank that the said Bank guarantee has already been surrendered by M/s. RPCL and cancelled on 13.09.2004 and it was done without seeking any advise from RITES Ltd., the beneficiary of guarantee.

It is further alleged in the FIR that verification has been made regarding all the 27 Bank guarantee from Bank of India, Club Side Branch, Ranchi by sending them copies of the Bank guarantees and then it was discovered that all the bank guarantees available with RITES Ltd. and the signature of Bank Officer on the Bank Guarantees appears to be forged and 22 Bank guarantees out of these were already cancelled by M/s. RPCL. It is also alleged in the FIR that Sri Dilip Kumar Das, Construction Manager and Sri A.K. Singh, CMD of M/s. RPCL dishonestly and fraudulently submitted 27 forged bank guarantees to obtain mobilization advance of Rs.16.8 Crores from RITES Ltd. and 22 Bank guarantees were got cancelled connivance with official of Bank of India, Club Side, Ranchi leaving RITES Ltd. without cover against the mobilization advance of Rs.16.8 Crores paid by RITES Ltd. to M/s. RPCL. Of Officials Bank of India fraudulently and deliberately did not inform RITES Ltd. that it had cancelled 22 Bank guarantees. The RITES L