JUDGMENT :

Suneet Kumar, J.

1. Heard Sri M.D. Singh Shekhar and Sri M.C. Chaturvedi, learned Senior Counsels assisted by Shri R.D. Tiwari and Shri Arun Kumar, learned counsels for the petitioners, and Sri Narendra Kumar Pandey and Ms. Sudha Pandey, learned counsel for respondent Bank.

2. The first petitioner i.e. M/s Shiva Enterprises, is a proprietorship firm, second petitioner is the proprietor of the firm. The firm is engaged in the business of construction. Initially, petitioner-firm was a partnership firm which was subsequently dissolved in 2008, thereafter, became a sole proprietorship firm. The firm has a current account, with overdraft facility, being Account No. 1886009300021932, with Panjab National Bank, Branch Kidwai Nagar, Kanpur Nagar.

3. On 9 July 2009, partnership firm in the name and style M/s Maa Gayatri Construction was constituted, wherein, one Ranveer Singh and second petitioner were partners. The firm was having facility of current account being Account No. 1886002100023313 in the same branch of the respondent-bank. On 11 July 2011, one of the partner of M/s Maa Gayatri Construction filed an application with the fourth respondent stating therein that the partnership firm has since been dissolved and second partner i.e. second petitioner, henceforth, has no concern with the affairs of the firm. In other words, Ranveer Singh informed the Bank that the firm (M/s Maa Gayatri Construction) has been reconstituted as proprietorship firm of the same name and Ranveer Singh is the sole proprietor. Thereafter, on 12 July 2011, second petitioner being the outgoing partner of the dissolved firm filed an application before the fourth respondent informing that he is no more the partner of M/s Maa Gayatri Construction, with a further request that the account of the firm i.e. A/c No. 1886002100023313, having ‘zero’ balance, be closed upon dissolution of the firm. The statement of account dated 4 July 2011 has been filed (at Annexure-5) to the writ petition to substantiate that on the date when the application was moved by the second petitioner informing the fourth respondent that second petitioner is no longer partner, the outstanding balance in the aforenoted account of the dissolved firm was ‘zero’.

4. It appears that on 21 July 2011, Ranveer Singh, sole proprietor of the reconstituted firm, i.e., M/s Maa Gayatri Construction placed a cheque, bearing No. FAQ 237452 dated 20 July 2011, for an amount at Rs.55,11,000/-in the account of the dissolved firm (A/c No. 1886002100023313). The amount was credited in the bank account which was later transferred by Ranveer Singh to one Prashant Shukla having account in Indus Bank, Swaroop Nagar, Kanpur Nagar, the deposited money was subsequently withdrawn by Prashant Shukla. It subsequently surfaced that the aforenoted amount at Rs.55,11,000/- was debited from the account of Meerut Institute of Engineering and Technology (A/c No. 2159000100049043). On receiving telephonic information from Chief Manager, Punjab National Bank, Branch Sports Complex, Meerut, that the original Cheque No. FAQ 237452 is with the issuing party, the fourth respondent lodged an FIR being Case Crime No. 676 of 2011, under Sections 419, 420 IPC, Police Station Naubasta, District Kanpur Nagar, alleging the fraud. In other words, the cheque deposited by Ranveer Singh in the account of his firm (M/s Maa Gayatri Construction) was forged and manufactured document. The Bank suffered loss due to the fraud.

5. During investigation, name of Ranveer Singh, Arvind Verma and Adhyant Tiwari surfaced, subsequently, they came to be arrested. Prashant Shukla was absconding. The charge-sheet was submitted against the accused persons, including, Ranveer Singh, sole proprietor of M/s Maa Gayatri Construction on 11 September 2011. The accused including Ranveer Singh came to be convicted under Sections 420, 467, 468, 471 read with 120-B IPC, Police Station Naubasta, District Kanpur Nagar, and sentenced to 5 years simple imprisonment and