COMMON JUDGMENT

The appellants before this Court are the accused in C.C.No.11 of 2002, on the file of the 11th Additional City Civil Court, CBI Cases related to Bank and Finance Institutions, Chennai.

2. Based on the complaint given by T.R.Chawla, Deputy General Manager, Chennai Region of Dena Bank, Chennai, on 12.03.2001 to the Superintendent of Police, SPE, CBI, ACB, Chennai, the respondent police registered a complaint in RC. No. MA1 2001 A 0006 on 14.03.2001 against one Shri Bharat Sha and 9 others. The said complaint by T.R.Chawla was consequence of the complaint received from one of the customers of Dena Bank regarding commission of fraud at Dena Bank, Vellore branch relating to Foreign Currency Non Resident [FCNR] deposit. The customer by name K.Sinnappan and S.Arukkani, residence of Singapore alleged that they made FCNR deposit in account No.310 for a sum of Rs.522739.38 USD on 18.08.2000 through one Bharath Shah. The said deposit had been used for taking loan without their authority. Further enquiry in the bank has revealed that contrary to the procedure and rules framed under the Foreign Exchange Management Act, the Branch Manager Shri V.Ramasamy [A4] had sanctioned overdra