RAMESH SINHA,J. - (1.) THE applicant namely Nand Lal Sehgal has prayed for bail involved in Special Case No.4 of 2012, R.C. No.3(E)/2011, C.B.I. EOW-IV, New Delhi, under Sections 120- B/420/406/468/471 IPC and Section 13(2) read with Section 13 (1)(d) Prevention of Corruption Act.
(2.) HEARD Sri V.P. Srivastava, learned Senior Advocate, assisted by Sri Lav Srivastava, learned counsel for the applicant, Sri N.I. Jafri, learned counsel for the C.B.I and perused the record. Counter and rejoinder affidavit have been exchanged between the parties.
(3.) THE prosecution story as has been enumerated in the FIR is as follows: The party, a proprietorship concern of Sri Kapil Kumar Tyagi, was sanctioned initially cash credit limit Rs.25 lacs on 27.3.2008 and thereafter a term loan of Rs.200 lacs on 03.11.2008 another term loan of Rs.296 lacs on 16.2.2009 along with enhancement of Cash Credit Limit from Rs.25 lacs to Rs.493.50 lacs for establishing a Chemical industry at plot No.F-7 to F-10 at Industrial Area, G.T. Road, Sikandrabad, district Bulandshahr. The limits sanctioned are collaterally secured by way of mortgage of immoveable properties valued at Rs.1267 lacs (at the time of sanction) as per following details:- (i) Residential house at village Devla, Tehsil Dadri, district G.B. Nagar in the name of Smt. Munali Tyagi (Guarantor), Area 500 sq. yds (actually now found plot of land only). (ii) Commercial property at village Devla in the name of Sri Kapil Kumar Tyagi, area 2900 sq yds (actually now found plot of land only). (iii) Residential house at village Devla, Tehsil Dadri District G.B. Nagar in the name of Sri Kapil Kumar Tyagi, area 500 Sq. Yds. (actually now found plot of land only and sold on 4.4.2011). (iv) Factory Land and Building situated at plot No.F-7 to F-10 industrial Area, G.T. Road, Sikandrabad district Bulandshahr, U.P. (now found that permission to mortgage these plots purported to have been issued by UPSIDC are forged. ;