NANDANI RAMCHANDANI WIFE OF HINISH RAMCHANDANI Vs. STATE OF UTTAR PRADESH

JUDGEMENT

(1.) HEARD Sri P. Chakravarty, learned counsel for the petitioners, learned A.G.A. and Sri S.B. Pandey, learned Assistant Solicitor General for the Union of India assisted by Sri Ankit Srivastava.

(2.) BY means of this petition, under Section 482 of Code of Criminal Procedure (in short Cr.P.C.), petitioners have prayed for quashing the Complaint Case No.2 of 2014 (B. Hazra Vs. Sri Hinish Ramchandani and others) filed against them under Section 4 of the Prevention of Money Laundering Act, 2002 (in short 'PML Act') pending before learned Sessions Judge, Lucknow along with the cognizance order dated 28.03.2014 passed by learned Sessions Judge, Lucknow.

(3.) BRIEF facts for deciding this petition are that the Directorate of Enforcement Department, Lucknow registered a case having Case No.ECIR/01/PMLA/LKZO/2009 on 18.12.2009 under the provisions of PML Act on the basis of an FIR No.RCBD1/2009/E/0014 lodged by Central Bureau of Investigation (in short 'CBI'), Banking Securities and Fraud Cell, New Delhi on 20.08.2009 under Section 120 -B read with Section 420 IPC and Section 13 (1)(d) of Prevention of Corruption Act, 1988 and for the substantive offences thereunder against Sri Hinish Ramchandani and partners of M/s SRS Investment Company, Kanpur and others for duping the bank of whopping Rs.46.42 crore during the period from June 2008 to July, 2009 in connivance with certain officers of State Bank of India, Main Branch, Kanpur by misusing the credit facilities without having sufficient funds in the account of M/s SRS Company and also by resorting to kites flying operation.