The synopsis of the prosecution is as follows:-

The respondent herein / Inspector of Police, Central Bureau of Investigation, Anti Corruption Bureau, Chennai has registered a case in R.C-MA1-2012-A-0024 under Section 120-B read with 420 and Section 13(2) read with 13(1)(d) of Prevention and Corruption Act, 1988, against the revision petitioner herein / third accused and two other accused viz., Mr.S.Gurusamy.A-1, formerly Chief General Manager, South Zone, M.M.T.C. Ltd., Chennai, Regional Office and Mr.V.Gurumurthy, A-2, former General Manager attached to the M.M.T.C. Limited, Chennai Regional Office, stating that during the period 2007 to 2009, M/s.Surana Corporation Limited, accused No.3 had purchased bullion (gold and silver) under the Stand-By Letter of Credit Scheme, through M.M.T.C.Limited and deposited the cost of the bullion arrived at on the basis of notional price and notional exchange rate prevailing on the date of delivery.

2. As per the above mentioned basis and procedure Stand-By Letter of Credit transactions are located through on line bullion trading system, but accused 1 and 2 and unknown officials attached to the M.M.T.C Limited, in order to favour M/s