- (1.) Leave granted.
(2.) The brief facts leading to the filing of the present appeal by the State, challenging the correctness and legality of order dated 05.03.2013 passed by High Court of Madras, are as follows: A case was registered on 31.01.2004 against the respondent herein who was then Regional Chief of Housing Urban Development Corporation Ltd., Chennai, along with other co-accused. FIR was submitted to the Principal Special Judge, CBI on the allegation that the respondent herein has dishonestly sanctioned 64 loans which were processed by A-2 to various individuals who sought loans for purchase of plots developed by A-3 (firm) knowing fully well that A-3 was not a reputed promoter under the HUDCO Niwas Scheme. It was further alleged that pursuant to a criminal conspiracy, the respondent sanctioned loans for inflated amounts causing wrongful loss of Rs.21,07,546.50 to HUDCO. After completion of inquiry, a chargesheet was filed against the respondent and 15 others on 30.01.2006 under Section 120-B read with Sections 420, 467, 468, 471 of the Indian Penal Code (for short the 'IPC') and Section 13(2) read with Section 13(1) of the Prevention of Corruption Act (for short the 'PC Act').
(3.) As per the appellant, during the course of investigation, five individuals were taken as approvers after recording their confessional statements. Accordingly, an application was filed by the Prosecutor under Section 306 of the Criminal Procedure Code (for short the 'Code') for grant of pardon. This application was entertained by the Metropolitan Magistrate who passed the orders dated 30.01.2006 whereby he granted pardon to those five approvers.;