K CHELLAPPAN Vs. STATE

JUDGEMENT

(1.) These appeals are against the conviction of the appellants.

(2.) The Sub-Inspector of Police, SPE: C.B.I: GOW, Madras received complaint on 31.7.1986 that between 1983 April and July 1985, K.Sankaranarayanan-A.1, Manager, Indian Bank, Hasthinapuram Branch, Madras, who had the power of sanctioning various loans, entered into a criminal conspiracy along with K.Chellappa-A.2 and Chandran-A.3 and in pursuance of the criminal conspiracy, committed various acts of commission and omission under the guise of sanctioning loans to some ten individuals referred to in the complaint. The loan amounts were not paid to the loanees; A.2 and A.3 acted as middlemen and withdrawn the amounts from the bank. They also stood as guarantors in some of the loan transaction. A.1 caused undue pecuniary advantage for himself and A.2 and A.3 and all the three accused cheated the Indian Bank, Hasthinapuram Branch, Madras. The above said acts of the accused constitutes offences under Section 120-B, read with Sections 409, 467, 465, 471 I.P.C. and Section 5(2) read with Section 5(1)(c) and (d) of the Prevention of Corruption Act.

(3.) The Chief Metropolitan Magistrate, Egmore, Madras by order dated 7.8.1986, granted permission to C.M.Dhanapal, the Sub-Inspector of Police, SPE: C.B.I: G.O.W., to investigate the above case.