- (1.) These appeals arise out of a judgment and order dated 9.6.2005 passed by the learned Judge, Special Court, Bombay constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (for short, "the said Act") in Special Case No. 1 of 1993 whereby and whereunder appellants herein with accused Munipally Subramanium Eshwar Chandra (Accused No. 6), Sunil Samtani (Accused No. 7) and Pankaj Brijlal Shah (Accused No. 9) were convicted for commission of offences punishable under Sections 409 and 120B amongst others and sentenced as under: (a) Accused No. 1, K. Margabanthu was sentenced to undergo R.I. for a period of six months and to pay fine of Rs.1,00,000/-, in default S.I. for two months. (b) Accused No. 2, Ramaiya Venkatkrishnan was sentenced to undergo R.I. for three months and to pay fine of Rs.50,000/-, in default S.I. for 15 days. (c) Accused No. 4, Ashwin Mehta was sentenced to undergo R.I. for a period of three months and to pay fine of Rs. 2,00,000/-, in default S.I. for one month. (d) Accused No. 5, Sudhir Mehta was sentenced to undergo R.I. for a period of three months and to pay fine of Rs.2,00,000/-, in default S.I. for one month. (e) Accused Nos. 6, Munipally Subramanium Eshwar Chandra, Accused No. 7 Sunil Samtani, Accused No. 9 Pankaj Brijlal Shah were directed to pay fine in the amount of Rs.25,000/- each, in default S.I. for 15 days. (f) Accused No. 8, S.V. Ramanathan was sentenced to undergo R.I. for a period of one month and to pay fine of Rs. 25,000/- in default R.I. for 15 days.
(2.) Before proceeding further, we may place on record that Harshad Shantilal Mehta (Original Accused No. 3) expired during the pendency of the criminal proceedings and the case against him, thus, abated. Accused Nos. 1, 2 and 8 who are appellants in Criminal Appeal Nos. 945, 965 and 922 of 2005 respectively were the Chairman-cum-Managing Director, the General Manager and the Divisional Manager of UCO Bank respectively.
(3.) Whereas Accused No. 1 and 2 have been found guilty of committing both Criminal Breach of Trust as well as Criminal Conspiracy, Accused No 8, being a Scale IV Bank employee was found guilty only for commission of the offence of criminal conspiracy. Accused Nos. 4 and 5 (hereinafter referred to as, "the private accused") were found guilty of commission of offences only under Section 120B of the Indian Penal Code being related to and otherwise connected with the activities of the original accused No. 3. Accused Nos. 6, 7 and 9 on whom only a punishment of fine was imposed accepted the judgment and have not preferred any appeal before this Court.;