By making false and fraudulent representations to some bankers to the effect that he was going to import hides and skins of commercial quality the petitioner succeeded in opening Letters of Credit in some banks and in inducing those bankers to remit foreign exchange equivalent to the highly inflated value of the goods mentioned in the invoices of the shippers. The Reserve bank and the Government of India were defrauded to the tune of more than Rs. 34 Lakhs. With these allegations, the Special Police establishment filed a charge-sheet against the petitioner and others for offences (1) under Section 120-B read with Section 420, I.P.C., (2) under Section 23 read with Section 4(1) of the Foreign Exchange Regulation Act and (3) under Section 132 of the Customs Act. The prosecution filed a memo before the learned Magistrate stating that in view of the magnitude of the amount involved in the cheating it would be in the interest of justice to have the case tired by the Court of Session, which, in the event of conviction, could impose a sentence commensurate with the gravity of the offences committed by the petitioner. The learned Chief Presidency Magistrate agreed with the cont