VIVEK SHARMA Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) Animadverting upon the method and manner in which the FIR dtd. 24/2/2022 vide no. RC0082022A0004 has been registered by the Central Bureau of Investigation (in short "CBI") under Ss. 120-B r/w. Sec. 420 of IPC and Sec. 13(2) r/w. Sec. 13(1)(d) of the Prevention of Corruption Act, 1988, against the petitioner , this petition under Article 226 of the Constitution of India is focused to get it quashed.

(2.) Compendiously and concisely, the relevant facts absolutely necessary and germane for the disposal of this petition would run hereinafter. A written complaint dtd. 18/2/2022, addressed to the Superintendent of Police, Central Bureau of Investigation, Bhopal, has been lodged by Shri K. J. Srikanth, General Manager, Canara Bank, Circle Office, Bhopal, against M/s. Brownie & sons ( represented by its partners / guarantors namely Shri Sunil Tiberwal, Shri Vivek Sharma / present petitioner and unknown public servants / unknown others, alleging therein that the aforesaid accused including the present petitioner entered into a criminal conspiracy among themselves with dishonest intention to cheat Canara Bank (erstwhile Syndicate Bank) in a matter of CC facilities / term loan and they cheated the bank to the tune of Rs.3.44 crore, by way of siphoning / diversion of the bank funds for their personal use, during the period from 2014 to 2015.

(3.) Original complaint dtd. 18/2/2022 is enclosed with the petition as Annexure-P/2, in which it has been alleged that M/s Brownie and Sons, Bhopal is a partnership firm established on 02/05/2014, having its registered office at G-02, Sagar Homes, Phase-1, 273 Sector-A, Kolar Road, Sarvadharam Colony, Bhopal. The firm M/s Brownie and Sons was engaged in hospitality sector and intended to start a business of running bar, restaurant and discotheque. The firm was promoted by two partners Shri Sunil Tiberwal and Vivek Sharma (present petitioner) on equal sharing basis. M/s Brownie and Sons was financed with credit facilities to the extent of Rs.350.00 Lacs by Arera Colony Branch, e-Syndicate Bank (Now Canara Bank), Bhopal on 17/10/2014 and the account slipped to NPA w.e.f. 30/11/2015 in the books of the Bank. The present liability of the partnership firm with bank is Rs.3.44 crore as on date plus interest. M/s. Brownie and sons approached Arera Colony Branch, e-Syndicate Bank for financial assistance of Rs.350.00 lacs comprising of term loan of Rs.325.00 lacs towards purchase of commercial property situated at Aura Mall (II Floor, Unit No.5-02, commercial space of built up area of 2921 sq. ft. at Aura Mall, Arera Colony,, Bhopal) and for purchase of furniture and fixtures, discotheque stage, interior decoration etc. for setting up a new pub cum restaurant in the said property and OD limit of Rs.25.00 lacs towards working capital expenditure. The RO, Bhopal, vide orders dtd. 17/10/2014 sanctioned a composite loan of Rs.350.00 lacs to M/s. Brownie and sons. Out of the sanctioned term loan amount of Rs.325.00 lacs, Bank had disbursed Rs.317.00 lacs towards purchase of the Commercial property at Aura mall and remitted to M/s Sandhyaprakash Ltd. (seller). The said property was registered vide sale deed no. 1894(2) dtd. 21/10/2014 in favour of the borrower M/s Brownie & Sons in Sub-Registrar Office, Bhopal The branch has created UREM on 21/10/2014 by deposit of original title deed no. 1894(2). However, on visit to the property site, it was found that the shop has no furniture and fixtures and the money has not been utilized for the purpose for which it was given. The unit has never commenced its commercial business and the materials and equipments were neither delivered nor installed by the suppliers/contractors, which clearly indicates that the borrowers have colluded with the suppliers and misappropriated & siphoned off the bank fund for personal use. The facts mentioned in the aforesaid complaint vide Annexure-P/2, prima facie, reveal commission of cognizable offences and thus, the FIR in question has been registered against the present petitioner and also against others.