CRWP No. 232-2017

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IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH

CRWP No. 232 of 2017

Date of decision : 27.09.2017

Sudesh Kumar Arora and others

... Petitioners

VERSUS

Central Bureau of Investigation

... Respondents

CORAM:

HON'BLE MR. JUSTICE SURINDER GUPTA

Present:

Mr. R.K. Saroj, Advocate

for the petitioners.

Mr. S.S. Sandhu, Advocate

for the respondent-CBI.

SURINDER GUPTA, J.(Oral)

This is petition under Article 226 of Constitution of India

and Section 482 Cr.P.C. filed by Sudesh Kumar Arora, Rahul Arora,

Vikram Puri and M/s Well Rope International Ltd. seeking quashing of

proceedings in case no. 2373 of 2004, under Sections 420, 467, 468, 471

read with Section 120-B of Indian Penal Code (for short 'IPC') and FIR

bearing no. RC.SIA/2003/E/0001 dated 30.06.2003, registered at Police

Station SIU (X) BSFC/SPE/CBI/New Delhi pending in the Court of

Special Judicial Magistrate, CBI, Panchkula, Haryana.

2.

The instant FIR was registered on the detailed enquiry

report of Chief Vigilance Officer, Oriental Bank of Commerce, New

Delhi wherein he found that M/s Well Rope International Ltd. (WRIL)

and Himachal Filament Pvt. Ltd. (HFPL) have indulged in causing huge

loss to their bank in connivance with bank officials by producing false

documents/bills and misrepresentation, concealment and fabricating the

facts. Though, in report several such instances have been quoted but I

Jitender Kumar

2017.10.09 10:23

I attest to the accuracy and

integrity of this document

CHANDIGARH

CRWP No. 232-2017

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will refer to few instances mentioned in the report, which form part of

FIR and reads as follows:-

“A Term Loan against immovable property in the

name of Sh. R.K. Arora, Director, was sanctioned by

Regional Office vide letter dated 04.02.2000 for an amount

of `10 lacs repayable in 36 monthly installments of

`35,000/-. The first such installment was due in March,

2000. This loan account became irregular from Jan, 2001.

The o/s and overdue position of this account were never

mentioned by the branch or called for by the Regional

Office while recommending/sanctioning limits to HFPL on

14.02.2001 or at the time of renewal of facilities of WRIL on

11.02.2002 on which dates this account was irregular. An

amount of `5.87 lacs is outstanding in this account

alongwith interest.”

3.

The property mortgaged has already been sold before

execution of mortgage deed. About HFPL, it was also observed that

while sanctioning loan vide letter dated 14.02.2001, it was mentioned

that credit report from previous bankers have been obtained but in fact

no such report was obtained and the limits sanctioned and availed by this

company at SBI, HPSIDC were concealed. At that time there was

outstanding loan against this company aggregated `31.65 lacs and the

account of company was taken over without adhering to norms contained

in circular dated 22.09.1999. Several other instances of

fraud/concealment were found and find mentioned in the report.

Jitender Kumar

2017.10.09 10:23

I attest to the accuracy and

integrity of this document

CHANDIGARH

CRWP No. 232-2017

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4.

About WRIL, it was observed in the report in para 14 and 15

as follows:-

“14. It is pertinent to note that the outstanding bills

aggregating `66.67 lacs on 24.05.2002 were approx.

two months old. The fact that bills drawn on M/s

WRIL Sudan had been purchased, was reflected in

the Monitoring Officer's Report on the account for

the quarter ended 31.03.2002 but no queries were

asked or raised by regional office on this aspect

while sending its letter dated 21.05.2002 to the

branch on the Monitoring Officer's Report of

31.03.2002. Earlier too, as per Ambala Cantt.

Branch letter dated 07.02.2002 while seeking

confirmation from regional office for having

purchased a bill for US $24700 (INR `12 lacs), the

branch had mentioned that the bill was drawn on

sister concern M/s WRIL Sudan. The regional