- (1.) As the factual aspects and points of law involved in these revisional applications are identical I intend to dispose of these three revisional applications by this common judgment and order.
(2.) Before I enter into merits of the revisional applications, it would be fruitful to mention the facts of the case as disclosed in the petition of complaint filed by the opposite party M/s. Hindusthan Development Corporation Limited in the Court of the learned Chief Metropolitan Magistrate (CMM), Calcutta which was transferred to the Court of the learned Metropolitan Magistrate, 17th Court, Calcutta. In the petition of complaint the complainant arrayed nine accused persons out of which accused No. 1 is the company namely CRB Capital Markets Limited. Mr. Shubh Karan Jain was arrayed as accused No. 3 and Mr. Fateh Chand Bhansali was arrayed as accused No. 4 and Mrs. Manjula Bhansali was arrayed as accused No. 5 and the last three above named accused persons as petitioners have preferred the present revisional applications bearing Nos. 1071/99, 1001/99 and 1103/99 respectively for quashing of the criminal proceeding against them.
(3.) The factual matrix as disclosed in the petition of complaint, in short; is that accused No. 1 is a limited company and Rajib Mankuria is the Manager-Accountant and Administration and constituted attorney of complainant company. Complainant company had given short term loan to accused No. 1 company for a total sum of Rs. 10.00 crores by way of demand draft of Rs. 5.00 crores on 14.7.1995, further sum of Rs. 3.00 crores by way of demand draft on 25.7.1995, further sum of Rs. 2.00 crores by demand draft on 2.8.1995 on mutually agreed condition to repay Rs. 5.00 crores on 12.7.1996 and balance sum of Rs. 5.00 crores on 18.7.1996 and the said loan would carry interest @ 20% p.a. on quarterly rests. When the offence was committed the accused Nos. 2 and 3 were the Chairman and Vice- Chairman respectively of accused No. 1 and both were in charge of day to day conduct of business affairs, the administration and running of accused No.1 company. Accused No. 4 is the father of accused No. 2 and father-in- law of accused No. 5 and was in charge of the day to day conduct of business affairs, administration and running of accused No. 1 and was responsible to accused No. 1 of the day to day conduct of the business. Accused Nos. 5 to 9 were all Directors of the said accused No. 1 company and at all material times when the offence was committed they were also in charge of the day to day conduct of the business affairs of accused No. 1 and were responsible to accused No. 1 for the day to day conduct of business No. 1. As per agreed terms accused No. 1 had issued to the complainant two demand promissory notes dated 3rd July, 1995 and 19th July, 1995 for Rs. 5.00 crores each which were duly signed by accused No. 2 and accused No. 5 while they acted for and on behalf of accused No. 1. Accused No. 1 also issued and handed- over 33 account payee cheques to the complainant at its registered office at Calcutta drawn on Canara Bank, Sarat Bose Road, Calcutta in due discharge of the liabilities for payment of principal amount along with interest. Accused No. 1 also approached by letter dated 13.7.1996 signed by accused No. 2 addressed to the complainant for extension of time of payment of said loan which were due namely Rs. 5.00 crores for a further period of six months to be due on 12th January, 1997 and balance Rs. 5.00 crores for a further period of three months to be due on 18.10.1996. Once again accused No. 1 issued two demand promissory notes dated 18.7.1996 and 19.7.1996 signed by accused No. 2 and accused No. 5 on behalf of accused No. 1 promising to pay said sum of Rs. 10.00 crores on demand with agreed interest. The accused No. 1 issued and handed over eight account payee cheques to complainant at its registered office at Calcutta drawn on Canara Bank, Sarat Bose Road in discharge of liability. On 31.3.1997 accused No. 1 also issued and handed over to complainant at its office at Calcutta five account payee cheques drawn on Canara Bank, Sarat Bose Road as per the details given below : JUDGEMENT_581_CALCRILR1_2005Html1.htm;