VISHNU CHANDRA GUPTA, J. - (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. After completion of investigation, the CBI submitted charge -sheet under Section 173 of Cr.P.C. on 25.03.2011 against Hinish Ramchandani, the partner of M/s SRS Investment Company, Kanpur for causing the loss of Rs.46.90 crore to State Bank of India, Main Branch, Kanpur under criminal conspiracy hatched with the officers of State Bank of India, Main Branch, Kanpur named in the charge -sheet. Thereafter, the Enforcement Department proceeded on the basis of report under Section 173 of Cr.P.C. against Hinish Ramchandani under the provisions of PML Act and during inquiry, it was found that petitioner nos. 1 to 9 had committed offence under Section 3 of PML Act punishable under Section 4 of PML Act in respect of the proceeds of crime acquired by Hinish Ramchandani. After inquiry, the aforesaid complaint was filed against the petitioners as well as Hinish Ramchandani and one another. On the basis of the aforesaid complaint, the learned Sessions Judge, Lucknow took cognizance by the impugned order dated 28.03.2014 (Annexure -2 to this petition).;