ORDER :

(Prayer in Crl.O.P.No.18455 of 2022: Criminal Original Petition is filed under Section 482 of the Code of Criminal Procedure, to call for the records in C.C.No.5231/2017 pending on the file of the Additional Chief Metropolitan Magistrate, Egmore, Chennai and quash the same.)

(Prayer in Crl.R.C.No.1340 of 2022: Criminal Revision Case is filed under Section 397 r/w 401 of the Code of Criminal Procedure, to set aside the order dated 4.8.2022 passed in Crl.M.P.No.2530 of 2017 in C.C.No.5231 of 2017 pending on the file of Addl. Chief Metropolitan Magistrate, Egmore, Chennai – 600008 and discharge the petitioner from the above calender case.)

(Prayer in Crl.R.C.No.1504 of 2022: Criminal Revision Case is filed under Section 397 r/w 401 of the Code of Criminal Procedure, to set aside the Order in Crl.M.P.No.22468 of 2022 in C.C.No.5231/2017 dated 06.09.2022, on the file of the Learned Addl. Chief Metropolitan Magistrate, Egmore, Chennai – 600008.)

1. Crl.O.P.No.18455 of 2022 filed by the petitioner/A4 to quash the proceedings in C.C.No.5231 of 2017, pending on the file of the Additional Chief Metropolitan Magistrate Court, Egmore, Chennai.

2. Crl.R.C.Nos.1340 & 1504 of 2022 are filed by the petitioners/A6 & A7 to set aside the orders, dated 04.08.2022 & 06.09.2022, made in Crl.M.P.Nos.2530 of 2017 & 22468 of 2022 in C.C.No.5231 of 2017 by the learned Additional Chief Metropolitan Magistrate, Egmore, Chennai.

3. Since all these petitions are arising out of C.C.No.5231 of 2017, the issue raised are similar and there are common contentions, hence, this Court decides to dispose of these petitions by way of Common Order.

4. For the sake of convenience and clarity, the petitioners are referred to as Accused as per their ranking in the charge sheet in C.C.No.5231 of 2017.

5. The gist of the case is as follows:-

(i) The respondent, namely, Central Bureau of Investigation, Economic Offence Wing, Chennai, registered case on 13.11.2014 in RC 10E/2014/CBI/EOW/Chennai against A1 to A7. A1 is M/s.PCH Agencies Private Limited, Hyderabad and A2 is M/s.PCH Lifestyle Private Limited, Hyderabad. Both A1 and A2 are registered companies with Registrar of Companies, Hyderabad. A3-Balvinder Singh and A4-Baljit Kaur are the Managing Director and Director of A1 and A2 and they are the guarantors for the Cash Credit Facilities obtained by A1 and A2. A5-Bhavesh R.Vithlani is a practising Chartered Accountant at Hyderabad, A6-Sandeep Maloo & A7-Ritesh R.Burad are the practising Chartered Accountants at Mumbai, they facilitated the fraud and got benefited.

(ii) A1 intended to avail cash credit facilities of Rs.10 Crores from Punjab and Sind Bank, George Town Branch, Chennai to meet the working capital needs for A1. Hence, A3 and A4, the Promoter/Directors, Key Managerial Personnels of A1, submitted loan application, dated 14.11.2009 to the Manager Loan, Punjab and Sind Bank, George Town, Branch, Chennai seeking for the sanction of Cash Credit facilities of Rs.10 Crores. The said loan application was processed by the branch office of Punjab and Sind Bank George Town Branch, Chennai and the Chief General Manager, Punjab and Sind Bank, Head Office at New Delhi, sanctioned Cash Credit facilities of Rs.10 Crores to A1 vide Sanction No.CGM/16/2010-11, dated 17.05.2010. After execution of loan documents and invoking personal guarantee of A3 and A4 on 22.07.2010, the branch opened Cash Credit A/c.No.1125 in the name of A1 and allowed the borrowers to utilize the Cash Credit facilities from 18.09.2010.

(iii) Similarly, A2 intended to avail cash credit facilities of Rs.10 Crores from Punjab and Sind Bank, George Town Branch, Chennai to meet the working capital needs for A1. Hence, A3 and A4 who are the Promoter/Directors, Key Managerial Personnels of A2, submitted loan application, dated 15.02.2010 to the Chief Manager, Punjab and Sind Bank, George Town, Branch, Chennai, seeking sanction for Credit facilities of Rs.10 Crores. The said loan application, processed by Pun