JUDGMENT

(Prayer:Criminal Appeal has been filed under Section 374 of the Cr.P.C., against the judgment and conviction dated 26.11.2013 made in C.C.No.12 of 2008 on the file of the XI Additional City Civil & Sessions Judge – CBI Cases Relating to Banks and Financial Institutions, Chennai-1.)

1. On 18.03.2003, during the regular inspection conducted by Mr.K.Lakshmanan, Senior Manager, Indian Bank, Inspection Centre, Chennai, it was found that in Royapuram Branch, Trade advances under MDL, powers were not judiciously used. Head Quarters guidelines are not complied in about 16 loans. Out of 16 such irregular loans, 15 were sanctioned by N.K.Ravindran, Manager who assumed charge on 09.09.2002. For all these 15 loans irregular loan accounts, a consolidated report for each individual loan exclusive report submitted by Mr.K.Lakshmanan to the Deputy General Manager, Indian Bank, Inspection Centre, Chennai. His report in short outlined that to M/s Steelex Impex (India) is a fictitious firm. Trade Loan sanctioned based on fake documents. Stocks were not available in the premises. Loan sanctioned by accepting third party security. The account become irregular and declared NPA.

2. About 30 months later, the Inspector of Police attached to SPE/CBI/ACB/Chennai on 28.10.2005 registered the case based on source information for offences under Section 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988 and Sections 120-B r/w 420, 409, 467, 468, 471 IPC suspecting the following persons:-

(1)N.K.Ravindran(Manager Scale II), the then Branch Manager, Indian Bank, Royapuram Branch, Chennai.

(2)Shri Dinesh Kumar Mishra, No.13/6, Doulatkhan Street, Anna Salai, Chennai 600 002, Proprietor of M/s Steelex Impex India, chennai.

(3)Shri Andrews Thamba, No.1/90, Kannadasan Nagar, Chennai 600 118, Proprietor of M/s Imperial Corporation, Chennai.

(4)Shri.S.Thiagarajan, No.10-41, II Avenue, Anna Nagar, Chennai 600 040, Proprietor of M/s Best Computers, Chennai.

(5)Shri.V.Gopala Krishnan, No.48, 6th Main Road, Nanganallur, Chennai 600 061, Proprietor of M/s VEE GEE KAY Enterprises, Chennai.

(6)Shri.V.G.Krishnan, No.47, Selva Vinayagar Koil Street, Razack Garden, Chennai 600 106, Proprietor of M/s RSV Chemical Corporation, Chennai and others.

3. Five specific instances of conspiracy, cheating, fabrication of documents and use of false documents as genuine were narrated in the FIR. One such instance is in respect of M/s Steelex Impex (India), which is the subject matter of these appeals.

4. According to the FIR, on 04.10.2022, Current Account was opened in the name of fictitious firm, M/s Steelex Impex India by Dinesh Kumar Mishra(A2). An open Cash Credit of Rs.15 lakhs was sanctioned by A1 on 19.12.2002 exceeding the discretionary powers. As collateral security for the loan, A-2 [Shri Dinesh Kumar Mishra],the proprietor of M/s Steelex Impex India, had offered a property in the name of Jawahar and created EM. Whereas, the real owner of the property given as collateral security was one Kannan. This property was purchased by Kannan in an auction sale and he had availed home loan from Indian Bank North Usman Road Branch. However, title deeds were fabricated as if the property belongs to Jawahar. In the fake EC submitted by the accused persons to the Indian Bank, the registration of mortgage deed No.837/1996 dated 14.02.1996 executed by one Mrs.K.Lakshiammal in favour of M/s Chennai Park Town Benefit Fund Ltd., not reflected. For the loan sanctioned to M/s Steelex Impex India, the death certificate of Smt.Lakshmiammal and legal heir certificate declaring Jawahar as the legal heir of Smt.Lakshmiammal produced. EM created in the name of Jawahar. In fact, Smt.Lakshmiammal alive and the death certificate of Lakshmiammal proved as false. The Branch Manager Ravindran(A-1) had sanctioned the loan without conducting proper verification. He had sanctioned the loan dishones