- (1.)This is the Second Criminal Petition, under Ss. 437 and 439 of Cr.P.C., has been filed by the Petitioner/A1, seeking regular bail in C.C.No.4 of 2007 (RC.No.1(E) of 2004 of CBI, Chennai) on the file of Principal Sessions Judge for CBI Cases, Visakhapatnam.
(2.)The above crime was registered against the Petitioner for the offence punishable under Ss. 120B r/w 420, 467, 468, 471, 411 and 201 and Sec. 13(2) r/w 13 (1)(d) of the Prevention of Corruption Act, 1988.
(3.)The Prosecution's case, in ssummary, ummary, alleges that the Respondent-State Respondent registered a case on 2/1/2004 based on sourced information, accusing the Petitioners/A.1 1 and 15 others of causing a wrongful loss to the Customs House, Kakinada, amounting to Rs.1,98,78,418.00. The Petitioner, as the Proprietor of M/s. Satyam Implex, Mumbai, purportedly conspired with other Accused individuals at various locations to defraud the Government of India.
In furtherance of this conspiracy, the Accused fabricated DEPB (Duty Entitlement Pass Book) licenses and corresponding Transfer Release Advises by forging the signatures of Customs/DGFT officials and affixing bogus rubber stamps. Allegedly, transactions were conducted with M/s. Kedia Overseas Limited, Hyderabad, a regular importer of edible oil, purchased seven DEPB licences and other documents from various brokers. As a result, the Customs House, Kakinada, incurred the aforementioned loss of Rs.1,98,78,418.00.