RAMCHANDRA SINGH JHALA, J. - (1.) This criminal leave to appeal has been filed by the State of Rajasthan against the judgment dated 23.6.2014 passed by learned Special Judge, Session Court (Prevention of corruption Act), Udaipur in Regular Criminal Case No.27/05, whereby he has acquitted the accused-respondents for the offences under Sections 8, 10 and 13(1)(D) read with section 13(2) of Prevention of Corruption Act, 1988 and Section 409, 420 and 120B I.P.C.
(2.) Brief facts of the case are that Suiting Private Ltd., Bhilwara is a registered company managed by the Accused Om Prakash and Smt. Kanta. Earlier the said company was known as Shiva Textile and was a Sick unit and loan of Rs. 15,83,000/- is outstanding from the above firm. An application for sanction of letter of credit of Rs. 15 lacs and 10 lacs as term loan was submitted by the said firm before the Central Sahakari Bank, Bhilwara and the accused Mohan Lal (deceased) recommended to grant of Rs. 25 lacs as hypothecation and Rs. 15 lacs as letter of credit and sent the same to main branch of the Bank, therefore, the accused Vinod Kumar recommended to grant of Rs. 10 lacs as term loan, 25 lacs as hypothecation and 12 lacs as letter of credit. It is further submitted that the accused Om Prakash also recommended to grant loan and matter sent to the Administrator, the District Collector, Bhilwara which was approved by him on 1.12.1995 and the sanction was issued on the basis of approval of the District Collector, Bhilwara.
(3.) The accused persons while misusing official position, sanctioned the term loan in favour of the said firm and said amount was not paid to the bank by the accused-respondents. The amount outstanding from the accused upto 31.3.2000 is Rs. 19,10,719. The accused-respondents Nos.1, 2, 3 and 7 hatched criminal conspiracy with accused-respondents No.4, 5 and 6 and caused loss to the public exchequer which is punishable under the provisions of Section 8, 10 and 13(1)(D) read with Section 13(2) of the Prevention of Corruption Act, therefore, a case bearing No.308/200 was registered and after investigation, a charge sheet was filed before the Court. During the course of trial, the accused Mohan Lal expired, therefore, proceeding against him was dropped.;