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1
BEFORE TH SPCIA CO A BOMBAY
CONSITED UNDE TH SPECA COUT (TIAL OF OFFENCES
REAING TO RASAIONS N SECURIES) A 1992
SECAL CASE NO 3 OF 196
Cen ueu f nveigon .. Coml
V/
Sath Mhn Aced No.
N auma ....Acce No.2.
3 B.. Achy Ace No
4 M P.J Sbbr Accued N..
5. Hiten P ll Accued N5
6 SK he Acued N
7 P Set Acue No7
8. MK Aho Km ... Acced N.8
9. Ktn V Pekh Aced No9
0 Nvcad N Peh ... Acse N10
V Snv ... Aue No
M V. P . S. Mhmn, Spal b Petof CBI
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Mr A.Z Mooh dv g Ad o usd No.1.
M Gh Ku, dv ud N2
Mrs BA. d (l A), dv r usd No.3.
Mr P. wd, dv or d No.4.
Mr. ul Kl dvot r d o.5
Mr. aih h M M dh Dru Lldr & Cdv or d No6
Mr Pdhr Mr v Sh & R Rpdvot or usd No7.
M Mr Ait i
My Sr Mdhur M&
Co, dv o N8
Mr. Mhh J Mr A Chu & Mr Ajt Kdd c 9 d 10
M D.R do L Aid or csd o.
OAM: VM. KAADE Jd Sp out
DAT : 7 Mrh 20 & Aprl, 208
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3
O DGME:
n 0/06/1994, a complan cme o be eed e Bank
Secue d Frud Cel of Cnrl Bureau of Ivegton ide RC.
No3/BSC/94-BM ude secon 2-B ad w eco 49 42
477-A of e ndn Pel Cod d econ 13() ad w eco
3()d) of he Peveo of Corrupo Ac 988 e R i wa
ed eable omo eceed e ice o e eec
Cnbak Fcal Sercs Lmed which had Headqur
a Bagoe ad wch w a wholy owned bsday of C
B, d ppaed e secoda mak aces was
aged
he FIR a durg 9992 S Moh Accused No)
Mr N Bubmam Accused No.2) were poed a
Vce ede e Ca Headue a Boe nd M.
S Mohn dele d N Baaubmam wa loog e
Fund geme Depe It wa aleed e wa a
coprcy bewee employee o Ca ad Canak Muual Fud
d some boe ad wa aeed eween hem e nd
bogig o Cana ad Caak Muual Fud would be dveed n
he ccou of he broke ad heee e d mou whch wa
deed woud eued w e ad o he d pupoe
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4
e aount of Cna and Canb Mutual Fund wee mapuaed
Te deta of e sad tnsation wee mentoned te Aer
e IR odged, acced No. 7 M Se w eed on
07 /07 /1994 and eed on bai on 09/07 /199 On
25/03/1996 ote accued were asd and we eleaed on bl.
Cge-heet was ed as e accsed n cag-eet wa
leged a te aued comtted n oence puabe unde
setion 120-B ead wt cton 09 420 77-A of e ndn Pen
Code and 3(2) ad wth cton 131)d of te evenon o
Coupon At. Ae te age-seet was led a cage w med
agait te aused e poeuo exmined 19 wee
suppot of is se.
2 e posecuon bie ta a ount of R
477068200/ w tsmtted e stlment om Cana to
Canbak Mut und oay oteby o pe of
ces by bak fo aa e ton ook ace on
0/10/99 and te ount oved tsacton wa 1729
oes. e cond acon tk pace on 22/0/1991 and wa
or e amount f R 12 coe e td traacton took pce on
6/01/1992 and an amont of 5 r. e fourt
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5
ctin w inid on 07/02/992 nd w alo o a mount
ofR 5 os T 5 aon was ated 11/2/1992 d w f
a amont o croe
3. Dung ose of uent M. V.G Pradan he eed
Speca Pubc osto ppeag o beh f e poseco
tted tat t proeuon id no wsh t pess rges e
of te sacto dated /2/1992 ad /02/992 i.e aon
No. ad 5 sce it wa eenly a ason wich w n espect
f te accused Manubha Mal who hd xped durng he
peneny of the l
4 I te case o te psecuion ht s s th rsttson
s nnd dad 10/10/99 e d to the ne of R 729
ores wee diveed vor of accused No 9 d 1 and accused
N. tgh the B of Indi In espect of te seond taction,
wch ws f aont of R 2 crors, nds we dveed
vo accd Nos.6 an tou te Bk o Inda and
repct of th rd ntion dated 6/01/992 te funds to te
une o R 5 ores wer divrted fvo o aed N.5 hrough
e Ad ak nd n spct of the our and ft aon, t
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6
nds were divered favour of ate Mabha Maka.
5 Te posecto as examed 9 weses i order to etabh
t ee ds ee dveed om Caa nd eveay these
ds laded n te ad of ased/broker, wo ied e sae
ad ereaer moe ame o be refded o Cn ogwith
ees
6. I s esseta to brefy se e aios whh voved
ptua se. t eged by th proseto t S Moa -
asd No.1 made a e dted 10//99 Cn's boo
egadg prcae of om Canank Mta Fd for R 79
oes he tere o de eee C d CB. Een
the absee of y dea a aon of 729 s was
red to CBo lO/f91 y f Bgaore. Oit 1;
ee o e ad o ocher dated0/10/1991
preped
CM o sow at e aid o wrgy eeve d t
t was o pd bak de ose of e t eged that
reat amot not reded o nn bt B A -
ed No3 aog wt BV. Srvsa accsed No. seqe dated 10/10/991 of R 899 ores vor o SK Jave
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7
accued No6 and e ceqe r 830 coes vo of M
Narbhaam Hakcnd, wc wa wic Ke V. Pek
and Nvncand N arek e ed No 9 ad repecvely
we sote Teeer, i mon of R 7.29 core w
egay paed on o e ad boker wo dd o e y da
eer w Cn or w CBMF coecon wi te rept o e
ad amon
er aeged ha teance of e afored mn
copiay N Baamm - cced No2 mde n ey daed
2/0/ n e Cann record egarding pe of "1 NCD"
for 2 ore om Cnbk M Fd whie Cana dd o
ave ny c de wi CBM I s aleged a even en U
amo o 1 oe w aed o anbk M d
Mmba y Cn Bngore on 22091 On eceip of e
n n CBMF, oer w pepaed owing d receip of
R crore a wongy remted" om Cana wh beng pad
o SK Jver a per Cnna' co and acdngy n
amon o 2 e ceved n CBMF m a wo any
dea w paed on o SK Jve cced No6 wo dd o hae
n deal eer w Cna o w CBMF in conneion w e
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8
ecept f th a amun
8 It aleged by te preun at N. Balbmam
acced N.2 mad an entry dated 6/0/992 n Caa' recd
egdng purchae f f NCD m Canak u Fnd fr
n munt R 5 ce g na did nt have ny uch dea
wt Canbank tal Fund (hereer ed '). It
eged ftr amn wa reived accued No.4 J
Subbar ued dc t Caa Bk Tama Lne Banch
Bmay t edt mn i ig Seme", gh F wa
n cnected n y wh sad mnt It s leged at er
amn a edtd i e Caig Sme t wa nred to
te accunt f Hiten l acued N5 wh did nt ae any
dea r M rpect f eipt f e ad amn f
R 5 cre It e petn ta N Balbmam
accused N.2 mad n entr daed 07/02/992 regardng uca f 4% N fr R 5 e m CBM thgh her w
n h dl eiter m Cna r CBM n amnt w
aed t CBM n te a f he aid enty er amt
ws riv CBF acued N4 sued a ceque ate
/2/992 in favur f lte anubi anikal tgh e dd nt
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have ay del eihe it Canna or i CBMF
9. I e psecution ase t simlrly, ccused No.2 N
Balsbniam made eny dated 1/02/1992 i Ca's reord
song prhase of 1 NCDs for R 7 ores om M houg
Cn did not hae deal d amont was ferred
to M for the prse of NCDs. Wen amont s redited ine aont of M acued No J Sbbrao alongh noer
Ofe ied ee dted 1/02/992 i vor of Mbha
ho, agin, did not ve ny deal th Caa o wth
M. The prosecion case, r h n mont of R
537782500/ received om s YB. Desa on 31/03/1992 nd
mont ws rsfed on 31/03/992 by Ca, Mmbi to
C Bangalore hrogh n IBA whi wa signed by M
Vop who ws not made n csed n te l t i he
poseution se t by e of ese ve cio n mont f
R 47706200/ was uzed by ebrokers and agin remitted ba
wh nteres The mont of 537782500/ as aferred on
31/03/992 by Ca, Mmb to Cann, Bnglore. hs
done by an BA signed by R Venugopal and afte amon ws
eeved by Cn Banlore, ccsed No.2 N Blbrmanam
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ecuiy. I howeve pohibe Canna om doing be of
bng a dene n e Baking Relaon A e Canbak
ul Fund s a us and i auhozed o mke nvesmens in
he a alo o lend money nd make advances. aue 15 of
Deed empowered he uee of he CBF o ) acqie old,
manage ade and dipose o shaes and debentes & ) boow o
oew se money w o wtho seie subje o he lms
a my be decided by te ee A he elea e ccsed No1
- S ohn wa e Aisn Vice Pesiden nd deale of nna a
Headqr n Banalor, accse No. - N. Balsbamnm
he Assisn Vice Pesiden and he dele of a s
eadu a Bangaloe ased No.3 - BR Achrya ws he
Gne nge a membe of the Boa of ruees of CBF
ccused No PJ Subbao he Ain nea aag,
Canbak ul n, Bombay ased No5 ien P. Daal wa
sha/ock & nce bke accsd No.6 S. vei a
sha/sock bke, acued No7 Palav Se wa ae/ock bk,
aued No8 K Aok Kma a e elevan me wa e ssisn
c Peiden of Cana Bagao au No. 9 - e V Pakh
wa alo ha/ok boke aed No10 Nananda N Pak
w so a ha/ock bke and ue No1 BV Sn s
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Javei, Paa Seh and Manbi Maa who were stck brker
m Bmba t dier nd m te thee Fnncial Ittn
our f e brker and t ceate a recrd on te bai f
mirepeenatin t and aon of doument t
dcate tat e C paced nd wth Cnbak Muta Fund
fr he pucse f nn-cnebe debenture but, aua rea,
n uc acn o purch f nn-nete debeture hadactuay taken pce nd n t manner nd t te tune f R
7706800/- were llega paed n e and f ke. The
pecutn e i, ereore, tht the accued eo dung te
pe m Otber, 1991 t Apr 19 n rde to defud he
Canbank nancal eie Lmted at Bagae f e ad amun,
forged rius dcument and made e read fard dea f RI
and 14 NCD secure wi CBMF at Mumba and eeb
derted nd of Cna at Bagaore to Mumba and theeae
dierted of Cana at Bangare t CBM at Ma o at he
aoun cod be deed f e e f aued N 5 6 7, 9 and 1
and, hereafter gn fse and ci enie w made o make it
appear tat he aid dea we reered
15 e peutn a examied 19 winee .W 1 M
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1
V S Hegde who ws worng a Seey n Cnbnk Mutual
Fnd at te relevant me Se sated her eence t, as a
Seey he work o pepae vouhers and oter nd rela
wor. The second itness examned y he posection ie P2
M B N Sna He was wo a a robatonay Seta
Canna a e relevant me P. 3 s one Mrs Shaa Mahar
Dghe wo w workng a an mployee of e Bank o Amea a terelevan me P. 4 Mr Ajay Kmar Nagendna Kr He was
worng a Taman Ban of a Ba as an Oer . 5 s
one Mr Jaguml Randa Na He ws a e eevan me
worg ana as Asst ede om Noembe 199
He has rough on reord cles o Assocton o ana P.6
M Aok Kumar He was worg as or Ve Peden
Caa d he on deputation om Cana Ba P 7 Mr M.
apa o ws worng he Caak Mtual Fun a e rele
e He sted ta one M suza he head o e
Depamen when he was worg i . P. 8 s ab ay
who wa a eevan me wrng n e Aons ep ent o
Bn o Amea PW9 s i Tuml He a te reeat
e worng B PW 10 Mr. i amondas
Ummegaonwala was worg a e relevan me a he So
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15
Exchnge Bnch Bk nda He stated tat at te releant
e he s hdg the accout of s arherm Harakcad
P.W s M ie Maadeo Agaokar d, at he reen me,
he wrkg Sk Exhage Branch of Bak of Inda betwee
o 8 PW. 2 M. Vsath mr Damarau ad he was
wrkg wih te Andr Bak, Fo Brach an Ofcer dung te
elevnt erid PW 3 Mr Omprakh uka He was wrkn
Cn bewee 8 and 84 s a ecty ad he was
postd Bombay at tht me PW4 Mr si t He
was e Cama and Mn ecor o a PW 5 is Mr.
Gur ma h, wh w wk e Eute
Ofcr of Cabnk Muul Fnd t Bmbay PW ne Mr .R.
mra nd e he Canba Mutal und, Mmba P.W 17
s Mr. Ygesh amsh Bmbadek He w wih he
Bombay ock Excge a he relevn tme P.W 8 Mesh sh
he Acouns Assat wth s Nabhem Hrakan.P.W
e Ivesgatg Oe Sa Shank ha so f Sde
Ae he se was iy estered by M Ar ank e
e SP the vesio o the se late o hded er t
and e cordd e evidence s wtnees H o szd
te docmes ad record nder seize memo cept mem
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h accused pledd not giy o t g h w
med by his C.
7 The poi fo deriio s dr:-
POS
(1) h poseio h povd
yod ol do e
h eiod Oo 99 ad Aprl 992
i Mmi d Bglore, d
nered io il npr it
oj of done pog of
uds of Cn o h n o R
782/-?
2 W is pod y t
proseio yod resole do
t, i h of nl
onspy of dosly sipong o of
ds of t o u of
7,782/- d oiy nd
y decided o x t gs
io nd nonxin dy fowd
so dd //199
2/991 /1/992 of ei
seis ih vgy nd
dpivly dd s o w L" d
FIG
Y aed Nos.2 11.
Yes, ased 2
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17
" NCD r te purpose of o
tat Caa d sod/prcased te aid
secries o/rm e Cnb MulFd CBMF a Mumba ad by us
deve divered e oesaid d o
e oresaid daes nd cimially
msapprpred e proeeds eeo and
dverted e d i te respe
acouns acsed Ns. 5 7 9 and and oder to coceal te sid nttion
maiplaed and reaed se ad
tos docume ad so made enies
e deae pads secuiy toc rter
redidebi oces ier-b advses
B d tereby ommed n oecepusable unde scon 20-B o e
d el Code d/or ecn 34
andor 09 ad i scio 03
, nd 77 e Idian Penal ode
read i ectio 3c read t
seon 3( o te eventio
Cpon Act?
(3 Weer i is proved by e
pseuio beyod reasoble doub
e accusd No s te sssat Vce
esiden nd empoered del in
sae and pase o seures by ad
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18
e of Ca o te exen of 0
la ad tat he ad wt doe
neno wle wongfly dpog oe nd o te Cafna exeeded he
power delegaed o and made
to ad onesen nao
voling purhse of 12900000/
of a so lled Sey "L wh CM
and erey ommited te enepnhle under eton 3(1)( ead
wh eon 132) of e Peeno o
Copon At?
(4 Wheer e proeon pved
yond reaonable dout t e aedNo1 d puua to e onpy o
energ o ready forrd naio
nvolving R 1729 oe o e Seiy
RL w he C ed Jner ak
Adve ]A) No32100 dated 10/0/91
for
000000/-ad
No32107 for
R 9900000/- vourng CM wtout
aaly reeg ay mem r
oe or euity i pyi or n e frm
of a eep om CM and eby
ommited oene puhale nde
eton 13)) ad w eon 12)
o e Peveno of Coupon A
YS
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19
(5) Wheer, it L poved by he
psecutn beyod eaable dub e ued N.1 ped mtng
the aut f 729 oe o
oenbly f te pe f ale ad
puh f secue hough h wa
de wthou y nse ad
heeby ed an oee puhbeude et 409 o the Id Pe
Ce?
( Whehe he poeuo ped
eyond eable dubt at te ued
No1 wh an tenton o deaud faed he bk/pape
belngg to y kg a ae
enty egad at vovng
729 o d ted a oence
pbe de 477A he
ndan Pel Cde
(7) ehe e ec ha poved
beyd easble doubt ht e ued
No2 exeeded pwer wee
delegated to t de le ad
pue o eue on behalf of
d enteed o n-eet
S
S
O
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20
cion involving puce f 12
ror o ed suty "14% NCD"
wi nd cmmed n onpunhbe unde ection 3()() ed
i con 2 of he Pevntn of
Copn At?
(8 Whhr it i proved by t
poeuon beyod b dbt ht accued N.1 w nued he
d C ying wih he Cr
Ba's brnch at Cunigham Rd,
Bangor ad tht hehs, in violon of
h trs of trustmen, enteed ino a
on-exstent aaco nvlving aamn o R 2 t Sey
"140 NCD" with CM nd asferd
n mun f 2 o by mkg
enty n A Rgt ving
wht ny oidetion nd cmmied
n pub und 9 f
he Indin Pnl Cd
(9) Weth prd y
pocuion beyond eb dut tht
the cced o2 id h boo f
cnt/dum belngng t C
by mkng e e egding he
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21
aacton nvolvg 12 rore s ad
ommted n oene puihbe der
econ 4-A of the In Pe ode?
( O) eher it s proved y the
psecon eyod resoe dot tht
te acsed No.2 exceeded he wer
delegaed o e sae and prchase
of sece and abed oce ypeendg to eter m dea pad a
Bangaloe co ad non-estet
scton vovg phse o R
res o 4% D" he CBM ad
eey ommted a oence pshe
nde econ (c) read eton3() of the eveto of Coto Ac
Wheher t poved y the
poseon eyod asoae dot h
the aced No, who wa etted wth
e d o he Ca hee o
he Copay made a og anacon
vovg a amo of 5 roe o e
Secy "4 NCD h he CBM ad
sfered the d amont n avo o
te M t any codeaton d
eey commtted a oece habe
nde econ 409 o he Idi Pen
NO
YS
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2
Code.?
(12) Whr i povd by hposcuion byod raonabl doub at
h ad No.2 fld
ook/doms blogng o Caa
iolig aco of 5 co d
ommd oc phbl dr
tio 477A of Ida Pl Cod
3 Whr rod by h
osuo yod h aoab dob
aud No2 xdd
ahor dlgad by C
by i g o ciio and o-ansa of 5 or d commd
a oc pab d o
3( ad w co 132 of
o of Coio A
(14) Wheer iti
proved by eoio byod raoab doub a
accd N2 ac of
spracy mmitted an ofenc
ubl dr io 9 of d
PenalCode.
NO
O
O
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23
(15) Wheer i roved by e
proeuton beyond aonble dob ahe aced No. made fae en he
ook nd domen o he Caa n
eet o he aon o R rore
nd ommed an oee hae
uder eon 47A of he Indin Pe
Code?
( 16 Wher i oved y he
oeion eyond esone dob ha
e ed o re of he
cay m ee of o
aon of rhe o R 7 roe o a "4% CO", aed oe
ad ommed oene abe
nder eon 11) red w eco
of he Prevenon of oon A
(1) Wheher i
roved by e
roeon beyond reanb dob h
he ed o ee o he
osay ommied n oene
hbe nder eon 49 o he Indn
Pe de ree of e o-ed
o raon of R 7 rore
O
O
O
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24
8) hethe poed b
posetion beyond easabe dobt atthe acsed No2 mde ctiious ey
he oos o aots d othe
dcents of a regrdg
aston o ores nd oitd
oece pable nde cion 477A
o he Indn eal ode?
(19) ehe t poed by he
posection beyod asobe doubt ta
te aued No2, heae of
cospac, exeded poers delegated to
nd peended o ente to eadyord R asactio nolvg
ont of R 7oes of e Set "
NCD dted 12992 h BM d
bused oc ad o itted a
oence pushable uder secton 13(1)(c)
red th section 132) o he Preniono Copion At?
20) Whethe t J poved by the
prsection beyond asable dob at
he ccued No2 as ested t th
doin of he sd funds, enteed no
ctos ton vov ores
NO
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ad caed e sd amut f 7 r
b CB by ing IBA
N32886 ded 199 wh aodran d d an oce
pble de se 409 f da
Pl d?
(2) e prved by h
p bynd ranbl db N, urc
d cprcy d r
red asacn ng
am f R 7 cr bk/ppers
n d d ece
pnabl nd ec 77A h
d l d
(22) W prvd by e
c byd rble db
a uhrac f t sd cprc
accud a arl e
ng h Gr Mr f MF a
er Oc Mba bfr rd f
h proced f h fad ac
dd 0/0/9 f R 79 crrs
deced ccsd N 9/0/99
s hq f R 899 rs
vr f Ms SK Jer f whch
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2
accused No.6 te Propreto d
accued No7 wa uboker nd ao
iged e ceqe ogw accudNo 1 wot y auort and for o
osderto voug cusd No6 d
aoter ceque No.488906 ded
//99 for R 8,3,/-
vourg M Nrbheam Hkhnd fo
wrongly beeg accsed Nos 9 d ad dverted d o ccused Nos 67
d 9 d terey commtted a oce
uable de ecto 3)c) d
w eco 32 of he reveto of
Crupo At?
(3 Wr rovd b te
proecto od reole dot tt
accsed No6 aded and abetted
accused No3 te aoead to
ad commted a oece punsle
dr secto 9 of e Ida
Code ed wth eto 3 d
seco 3) o he veo of
Couto Ac d econ 4 o e
d e Code
YS
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27
(4) Wer prosecuion a
sbh byon nal ot tt
ad N.3, a maia bg gra Maagr of CBM a ir
Ofe a Mmbai, b
ing pocs f afs
asacos a 0/0/991 amun
o ,900000/- rece acu
No on 9/0/99 sf o prpaqu a 0/0/99 R
8,3000,000/ voug M arba
Hhan of accus No.0
Nannra Pak w panr and on
bf of wic au No9 Kan
V. Park
eang
and
sn acus No3 ws not o be avaab
n 0/0/99 Mumbai signed
ceque barng No88906 a
0/0/99 for R 83000000/
onwi acse No n go i
r o represena of
abam araka w ase
N3 knw M a o ing w
s N rbra rakn wi
si qu a b sue wou
auory an w no sron
faourg acus os 9 an 0 a a
e of awg f aforsai
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28
eque accsed No.3 knew t nds
te acco of BOS fom whc e
eue d bee drwn, were ciead ye, acced N o3 d e id
heue daw kowg ecessay
nds wold rogly be made avalale
ogh CANFINA y acced N o.1 nd
ad ac aos o al
bac o t d s sch accsd o3 gly o absg oc a c
ea d eby commted oence
pe de co 3 () (c) read
w eco 3(2) o Pveon of
Coo c?
(25 W oved by the
oseco eyod eonble doub
a eace o he crma
coscy e asd No9 go sd
ee ceded o e accont o M.
Naeam Hakcnd wo ay del
and cosdero nd he acced N o0
ed he ad mon by g ce
daed 0/0/99 o 825 oes ad
eey ded d abed acced No3
d commed a oence ise
ndr econ 9 o he Idn e
Code ead w eo 3()c) ad 3(
YS
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29
of he Preventon o Corpion Act and
ecion 409 o he ndian Pal Code?
(26) ether roed by e
roecuion eond eanabe dob
the acced No., n heane o e
sd cocy being an An Gneal
Manager of he M, eeved n mon
f 5 e ve IBA No3686 daed1/1/1992 for edig he me o he
accoun o Muua Fnd u
eal ceded ame Cancgo
Scheme c wih he Ba,
Tmind Road Bnch Mumbai and
thereby legay afeed he ame ohe an of aced No5 and hereb
ommied oence hable nde
eion 3c) nd 132 o e
eenon of Coon Ac
7 Whehe i l ed b he
oeion beynd reaonable dob
i eane of he d oiacy,
e aed No5 go he moun of R 5
re reded o acun wh an
del or conideation and commied an
oene uihable unde eon 9 of
he Indian Pen Code ead wih ecion
NO
S
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30
13()) nd seio 132) of he
eveon of orupon Act nd sectin
409 of he Ia Pel ode?
2) Wheher i pod by he
prosetion beyod reasonbe dout t
he ued No. be the Vce Presidet
o Caa exeeded powes deeated
m d bed Oe by maki netry in IBA Regster be IBA No326
dated /2/992 erdin o d
oneet aton showi puhe
of " D ad theeby mmited
ee ushble unde secto 3()()
ead wh tio 3 (2) of he Pvntoof oupio At
29 Weh it proved y he
poseuon beod easoabe doub at
the cused No, n urherce of e
onpcy ified he books of Ca
d ommtted a oe rsect
ae /2/1992 o
7 rores ad cmmited oece
puable ude o 477A of the
dian Penal Code
YS
'
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31
(30) Whethr it s poved by te
poeton beyond eonble doubt
e cced No4, who w a he mateme th Assistan Geral Manage of
CBMF, srred the amount of R 7
or t ws ded to e ot of
Cgo Scheme of CBMF d d
e me to the ont of e deesed
stock broer Mnuh Milal bypag vohe dted 1/2/1992. d
ommted oee phbe de
eto 3(1) d with eo 13(2)
of e Pvenon o Copion A?
3} Wethe t poed by hepoeto beod eoabe dob t
e ed No8 exceeded e ahoy
whch w dged to nd o
5/3/1992 mde ey he Sd ook
gdig ps of 85000 he f
Nh Spg M oh
aed No 7 P Seh nd aed o
of 510 oe o nd
corepodg eg to Pav Seth -
ed No7 d o ed IB No334
ded 2/1992 o conodted mont
o 2092300/ ve of
27500000/ whot y ipt o n
NO
YS
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of A.C.C. getng o 25,0000000/-
om Palav S acsd No7 tat w
no ihn ompnce tog nw a t aactio was o cous
nar nd hrb commitd onc
pnsab undr scon 31c rad
ih secon 32 of he revento o
Coupon c
Whh t provd h
posection byond ronab dout tat
accused No.8 was nused w
fnds of and mde an et daed
08/04/992 deas pad ad lgay
ased 25 croes to ausd No.
Palav wihou any del srty B
ost mmo etc nd commed oence
hbl under seco 409 of h ndian
Pal Code
5 Whtr i roved b
poston byond rsable dob a
accsd No1 wongfly credied
said amoun by sung ceqe No88905
daed 10/10/991 for 8,9900000-
our Ms SK Jvri for wogully
netng th accsed No6 nd anoer
chqu No88906 dad 10/10/99 fo
N
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4
R 8,30,00000/ favoug Ms.
Nrbhm Hkhd o oul
eneng aused No 9 d 10 ddveed d of Ca o ced Nos
6 7 nd ad commied n oece
ale de secon 3() red
seco 32 o the Preveo o
Cn Act?
(36) Whee t s proved y the
oseco eod esoe dou
he used No 6 9 0 e
aeed accsed No d commed
oence ae der seco 10 o
e Inda Pea Code red wh Seo3(c) ad 3() o e reveon o
Cn Ac?
(3) Wete poved y h
oseco eyod eaoae dou
e aced Nos 9 and 0 deoed theeqe No488906 ded 0/0/ r
000000/ sed y e aused
No 3 nd d deosed e sme
e cou wh e Bk o Sock
Ecane Bc kown he
amou dd ot eon o em d
hoesy eceved he sae wo an
NO
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cdraio ad cod an o
ushable dr co 03 of Id
P Code.
(38) Wh it ovd by e
poso yod easonae doubt t
asd Nos 3 d 1 bg
moys o CBM add ad ad t
ased Nos 9 ad 0 to casaraio ad od a
o usha udr so 09 o
da a Cod ad w so
403 o a P Cod?
(39) Wh rovd y teoscto byod easob dob a
acsd No6 ed ad dosd
q No88905 dad 0/0/99
a ou of 89900000/- ssu by
t asd Nos3 ad ad dosd
a n h acc kowg a sd ch dd o bog o h ad
by commd a o ub
udr so 403 of h d a
Cod
0) hr t s rod by prosuo byod rasoab do a
Y
YS
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he ause No3 ig empoyee f
CBMF, ence e cnspc,
ade abete accuse No6 comme are a mal
sapppiao ommte a ac
pube ue ct 109 ea wt
ecto 403 o e Ia Pe Coe
( ) Wee pv y eposecuo eyo the easoae ou
t th accuse Ns 6 a 7
22//9 at Mma ecee
epe eqe No5877 ae
22/0/9 2 cs whc w
sue as pe e uctos o eaccse No3, m tei j accut
No04760 w te Bak o Aeca,
Mm kw e a chee
t g t em a shesty
ecee te e wtot y
et a comme ecepe e set 03 e
e Ce?
2 Wethe poe y e
posecu eo easae ta
e acuse N3, beg a empoyee fCBMF, uheace o e cspy,
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ded ad abted ased Nos 6 ad 7 t
mmt a ee f imal
msarrii by ittg theu iztio d or al
mapritio of te amut agat
th aid hu ad ommitd oe
psble ude t 109 o e Idia
Pa Cd d wth o 43 o the
di Pl od?
(4) Wee t vd by te
preut beod reoable dob at
h ad N 6/1/199 ried
qu No587664 dted 6//99 r
5 es ued/pased y h auedN4 vd vuher dated 16//99 ad
deted te ame aout wit
Adhra Ba Fo Bra Mumbai
kwg at h amut agis th sad
qu dd t beg o th h
doely eeivg th e
witu y oidra ter ad
ereby mmted a ee puhabe
udr eti 40 f te Ida Pa
Cod
YS
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8
( 44 Wet poed y e
poecuton beyond reaoale dout that
te aud No4 eng e emloyee oC n ternce o e onpacy
aded and abtted ccued N to com
te aoed ct o ma
mapppaton ad eey commted
a oence pabe under eo 10
o te ndan Pl Code ed wh en43 o e Indan enl Cde
4) Wete te proeton a proved
yod reaoab dob tat al e
acued ae ommted oen
unale under eon 46 & o thendn Pel Code?
4) Weher te poeuto h proved
tat ey ad oand ncto to
poecut te acued No 2 and 4
4 7) Wee t proved by e
poeuto ta the con o poute
e aued No 8 & w no
neeay?
48) Wat ode?
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39
18. Bee ode the l submissos, i my iew t wold be
appropae he sbmssons of he eed Conse appeang on
behaf of e csed ae nod. Ts ha become necesay easehe sbmsons of some of te accused nadoy o eah oe
nd ome of em n e submssos have ed o shi he bude
o te ohe csed hs beig e se wod be appopae o
bey oe dow he sbmsos made by eah o hem
SUBMISSIONS E ON BE
OF ACCUSED NO - S OHN:
1. he ened Cone ppeg on behf o ccsed No1 has
sbmed a he accsed No ws caged nde seo 34 09
20-B 09 7-A o he India Pena ode ad seco 3()c and
ad w secon 3 2) o e Penn of Copon Ac n espec
of e sad anaon he Coe o accsed No made he
llowg sbmson:-
He sbmed ere was o concse
poof o show a e ccsed No eed oany o hese con
He bmed th the poseco s no
poduced ogh shee whih acodig o
s he foemos pimary ecod of des.
(i) He sumed a he enes n de pad
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4
ad IA Rgt e no rlvat r ddig
who wa h po who cocud a.
(i) H bmd h t p magm was
y awa of ao d did ot i
ay objio a ay po of .
) H bmi h da i qio
w d ad h Caa ad pr o 1,4,68200/- o h atio
2. I ep of iiua g h ubm a foow:
a CONIRCY
H bmid a a o
ima opy wa t am o do
ig a ad agmt cod b
po h by di o ma
d o by both. H bmd h
admtdy h wa o di dc
aaiab m ad o fa a
cma a od th
pcio wa o a poto o bh
the ma by og ad iab
vd H bmd a h po
ad o b abl o po a beyod
h aoab db
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4
VER
He submed a he prosecutio h
o brogh o reod maeral evee
boh o ad domeary before Co
d a ough h saemes o M.
Pvee Bh, Mr. P.N. Nry Ro and
. A.P. Ro wee eoded de seo161 o he Cl Poede Code, hese
wesses wee o exmed ad heee
de eene was ae o e
gs e roseuo
(c) A B OF
sumed he csd No1
wa o eused w he ud or
domo over e uds of Ca e
smed a he sed o. ad
owe o eer o y dea e meda e aused oI ad o sg ay
eques o e o Cf for he uos
o rg e uds (BAs) owards
aaos eered o d e eso
who sged he ees wee i t om
e bk u O d he Exeuve Ve
Pesde om Me Bkg
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42
Deprmen m he Geer
dmnsn Depen s sbmed
he ud N1 n cmmiedny cm eh f us. He sumted
ne f the wee d deped
n cced N.1 mde ny tteme
cg e e e ence He
bmed hee dcumen wee
pduced e precun g ccuedN1 Ebts 9 40 nd 9 d
ne f he itness tted he
csed .1 cmmied br e dy
ec f he s e He e
smied h r ene under
cis 0 0B 40 A f eIdn e Cde d ect 3 ) ed
wit ecn 1) f e Prevenin f
Crpn Ac e cnceed he
prcun h been be e
"mes-r gn cued N1 c w
t cry rden hese ence
n p f the i sumin he
reed pn the fw jdmen:
( Rmeh Kumr Vs Se NC.T. f
e 26 R 102
Se f Hy V. Bj L -
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2 SC 6
( ud o Spee Co Job w V S of n &
pe (Cr) 15 o 20 dedd on
uu 5 5
() Hndua S Ld, V. S of
Osa, 6 (2) sec 62
5) ohed Yu & noe V/ D ad
aoh 68 Bomby 112
ji w & Ss d V/
ne Ip AR 8 S 85
7 Hnn V S o R 152,
SC 3
8) Se of ka V L usw
2 sec 6
( K Nan V/ S of Kaa,
() sec 2
1 Vk Joh V/s S o Ke
3 SC 182
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() Mej Sngh k Vs. Stt of UP,
(199) sec 1
2 Ha Candra ad anoer tc V
Steof P 1991 Cr W. 2815
2 Jn support of te sid submsos he nvted my tenton o e
domen on w rn w ped by e poseton s lo
t ednce of PW2 6 3 and nd 9 He o made commen
on id documnt T oa edene of these wtnesses be
delt i t ater g
SBMISSIONS ON B OF
N02 - N BB
22 M G K eed Col appng on bf of
aued No2 ubmted at he oowg hrge ve ben led
gst used v Chrge No 6 8 9 1 2 3 6;
17. Ot of tes hrges Carg No2 4 6 9 nd 5 r s
f ofn nbe ude vnton of Coo At
g No nd 6 e for offnc pub nde ston
09 of e Indn Pna Cod Chg No n ct of t
oence of coay pab ndr con 20-B of e ndn
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45
Penal code. M Kuki submttd at t sancton w
accordd to prosecut accusd No2 was bad n law H sumitd
tht the sd snion invd H ubmtd hat h df sancto
w not dd and, tfoe an advere frence w ll o be
dwn H submtted tht documnt on wic ren
plcd by te posecuton forwrdd y th accsd Nos. 1 & 8
d he asd No. d actd on He sbmitte tt terfo,
t ion w acoded wot y apcaon of mid. H
sbmtd tat te co-sgnory hng been xonerated acd
No2 aso was b to b aqittd Thdly bmitd at even
th n atd it , e oence under etion 477A nd
9 w not made out. H aso submtd t the oence punibl
unde enton of Con At also ws no mad o H ivtd
my attnon o t n of P.W1 P.W6 .W He so
ubmitd tt te aused No.2 ws wog i t akp
Dpamnt to rod th asacons pu roug by
dng
dpmen nd he ws reporg o Vce esidnt M K Shnoy.
H ubmttd tat h job of accsd No2 to writ down t
actio u ro y dg deptmn basd on t
instrctions gvn by t dalers in oug ss He s nit a
dea no d been stowd wth te pow or authorty buy
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sae ewse ea saes or cuiti.
SUBMSSIONS ON BF OFAE N.3 B.R ACYA
23 Jad, h Consl ppag o ea of
acce N3 m e w sumssns:
() S sbm ha e S
Maagm Po w hr mad
ase r xmin t sn
) Sh umid o ju ws cud
t th puc c ss ws us t
Cna an, m Cnf rd
adm
(ii) Se umid a o 403 d
5 wee mly xcliv a
co culd g an S
stte tat te asacos we o cil
ae a o cimia
ai aach o raacios
v) S umid o c bee
ac o pv a wa a gal
mial corac e c
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or beeen o em Se sme t
o mpl ee ed by e empoe
Canna ga te ccused.
v) Se umied e aused No.3 s
o pul e ad, eee, ages
ude e eenio o Corupio c ere
o ced
vi) Se e sbmied t e ccsed
No.3 eier eed wt e nds o
ad e any doio ove e said nd d
eeoe secio 09 o e Id e
Code was noattraced.
e smed a a e mos i
oud be s e s n rrulay
d eefoe e provso o te dia
enal Code nd te eveio of oupi
c ee o ed
ISSIONS O BtCCUSE 4 P SBBRO
, 2 Sawae e eed oue perg o el o e
ased No made e owng sbmsos-
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SO
H sbmitd tat h ancon wc waivn by P.W 5 - G.A. Shna ur fom
of nonappton of mid He
sbmtd tha t cg-, n
enty was o acd bfo h oy
wn h acon od wa pd on
0/03/996 H d y on o thvdnce o PW15 A nd
m ha om te doton o e d
wtn t wa obo tat md w
totay nncd y h Lel Dmn
o gg sncon
JSO
() e bmd ha h ocon w n
of ve ansco dtd
10/10/199 2/0/1991 6//99
7//199 nd 1/2/1992 bmtd ahee o had ace o o
06/06/992 wh w dt on wch tecl Co Ac w dmd o ha c
o c. H mted tat teeo ed co w yond t jdc
of t Co
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9
OMIION ON T PAR OFROEUTON O NAME CPESONS ACCU:
(i) He submited at ceta bks who
had sied the doment wch were the
sbject mate o the posectio we o
ame as accse. Oe sch Ofce Si
shok Kma Ki has deposd fo he
prosetio Oe Ofces SM Satish
ad Ail Nara wee o proseud No
pao was ve for he sid omsso
e sbmitted, terfore h ge de
eio 120B could ot atated sce e
ersos who wee smaly siated w o
posecued
RGE ER PREVETION OFION A S N AAD
(i) e he submied hat e carg de
setio 3(( ad ( o he Preveo
f Crp Act was ot attracted to te
acsed No4 sice he was employee of
bak Mua Fd w admite
a trst ad theeore s a employe
MF the acsed No.4 w ot a p
seva. I sppot of e said submssos
ed po he dme o e Speme
ort
B
V
aoa
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5
eal PeCI.
& eped
c) c e e ited my
attet t te evidence f PW. 1 S..maaj PW 14 - K.N Kaat ad PW9 -
T. and sbmitted tat case ee
made ut " psect agt te
accsed N.4 He ute sbmitted t te
qesns ee sked t accused N nde
sec 313 f e Cmnal Pcedue Cdeand cmments ee nvited n e
dcmens med as X1 X2 X-11 X1
d X He smited tese dmes
ee t pved ad ence did nt sttte
evde and culd t eed pn as
evdece agas te ased N4 H eedn e flng dgmens-
1 Sat ajee mcnd V/s YemSa - 197 SC 865
(2 Nabada De Gpta V/ BedaKma Jasa - 38) SCC 745
3 Ddas Lm V/s Emp 1932 S 69
(4) Sant Km nd tes Vs. Te Kg 39 9 93
(5) Cadk Pad V/ mpe - 930 34
6)asul d V/s e Ste f
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Mhaasht- 972 SC 2
Ramawami Nada V/s Te Sae
Mdrs - 95 SC 5
He vited my aeon to te poons o sein 403, 40 d
sbmed t te eden o tee oeces were nt estabsed
b e rsetion so a aused o4 s oerned
SBSSOS O BF OFACCS 5
25 Ke, e eaed Counel appeag on bea f accused
No submitted at the dene aen by he aused No5 was nt
thg ly xpl
was isued der seto 9 o he Cml Pedue Cde He
rter submted ta he mati w s ed ad been
croboated y te esee repes y te te persos voled
e ansaton. He dly sbmied hat o vestigaon as been
ed out to d wether e explaation wh ws gve by
te aue No5 w se H te vite y attenon o
ote wch was given t te Copotin B beig Exhibit A5(4)
d the Cdit Ver dated 16/0/992 e as vited m
atet to the oe gven to the Anda B a Exi A5 and
e eply gven by te Can t ExibitA-5 ig wht
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52
sa by he accsed No H sbmed ha h Ca a n ac
pad ha amon on 16/01/992. e sbmid accused
o was nvovd by prosecon Carg Nos. 1 9, 10, 1 22,
2 39 nd He vid my aenon o smns o W2
W.4 P.W9, PW 2 and .W 3. He sumied a he saemen
of se winesses nno esabh he case o posecuon. He
ivied my aenon o h vario documens suh s C No
866 -106 Ex-1 and Ehbi-2 H has aso
cmmened on e saemen o P.W 2 and sbmed a h
dnc givn y wie oes n any way conec h
No5 w ommo of g on
smied e ders renc ws iab o be drwn on
accon o e nonexamaon of he wnesse parcuay n
espc o he evence o esabish e agemn H reid
oowng judgmns o h Apex Cor:
1 P. Bngar Vs. e o aasra - 199 8
2) rad V/s. a of aaasr 1 sc 6
) ieun Heco Tomas Huney V/s.Empeo (31 19 Feder C 66
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3
He as ao eneed wen submisios. I a nhel is argmes
be smmrze as nr:-
(a) rspec of crg of cospiray, e
sumie a the charge as ame es n
ae o of he harge-sheet e in he Cr
a herore he carge was usaile
aw. e sbm a he hrge was
slen s wch par f he spircy was
vk by h pscuo n spe f he
aege ee. e ste h cage
even n he bs of he eiene le by he
prosen fas o he gro as n ene
s bee l sppor o he prosecin
. h n smie s fr carg
N 9h an 1h re cocee s
No.5 ws n in ay way conn w
o en fm he eee of wneses
e fher submie h he rge Nos.
22ly an 23rly ar ba n e legain
he s No4 ws smn n
mkg pymen o e s No. an
ws fe by he eene of PW9.
submie e prseio has no
xmne h wiesses m M who we
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sgtoe of who ould ve been
deposed bo he pymen of 6/0/ 99
wh wod hve esbihed he noeceo used No.5.
() He sbmied ha so far s aued No.5
s oeed, he oy ee dae as
1/0/99. He ubme h he dee
o e ued No s o //992 ahe ie of CB he hd ised heqe
of R oe fog ooaion B by
wy o aommodio d ht he sid
mou w eued on //992 d
he did o eeie y mou fom
d) He bmied h none of he domens
o whih ee as bee ed by he
poeuo ebh he e Noe o e
o eidene w i og on eod
uppos e poseio se. e fhe
umied he ee s bee ped by heoe o on he judgmen of e Apex
o Mu's e b i be
disgushed i he fs d iumses o
se
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Furthe deted submsos of Kle wl e dscussed te
ppopite stage
SBMSSONS ON BF OFACCS NO S. V
26. M. Sh he leed Coue ppeaig on eh of ccsed
No6
SK Jei sumted at he acced No6 wa onced
wi hg Nos 1, 32, 3, 37 and 38 e sumited t so f
e ist tncon s concened dated 0//199, none of e
wesses hd nmed e acsed No6 SK hei. He nvted my
attetion to the stement of P.W.9. He ther sumitted at
Nihia wo ws te occsed a the eevant poit of me, was
ae on dopped as n accsed d he ws o not exmined by e
ocuon He sumtted at eve e poseton s ten
it i, it wod esta t e cused No.6 hd o wy of
knowig t te amoun elonged to Cana. He sumitted t te
PW9 ttement egoc ded he d ee
ormed e acused No.6 S.K ave. He so nved my
attetion to he sement of ccused No1 nd PW.9
Ivesgag Oe He vted m aton to e documens at
Et A-65) & Exhibi A6(6. He aso poted ot that te
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6
docmen a Ebi A618 learly esashed tt a susntal
payme ade y he ased No.6 o Ca fer //
d was not onsone wih h odu of he eson who
wed o aoe he aons fo a o Canank. In a
n sell e sued s nder:-
a) Th evde addd y e oseuondd o dsoe e l oniy
e ws o evdee o d
e ased No6 had kowedge ha oney
eonged o CBM
() Tee as no evdene o nde a
e ed o6 idued y nk ol o
iue cheqeofR8.99 ors.
d) ere ws nog t da a ee
was any deeny n he ak aou o11/1/1991
(e) Te doenty evdene w ws
oght on eod y e oseuto lel
ndaed t was a gr tnsatio
ad ha, in e neve hd yde
oneon wh he Bnk d a
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5
Sh ausd o7 as d
b
Th d ry dad a
r r rar raos h aud
Nos 9 d ad h as o ay
od h aao dad
//99
) H ao d y ato o
sa o W8 o Aos
araad H
d y ao o Eb A9
Ehb A8 Eh A9 Ehb a
96) ad t A- 6( H ubd aa hs doua d s ao h
oa d oud o bh h as o
h roso
h) H urhr y ao o th
sa o W7 hr hh
dt sre bo o SK Ja
hadd or o C oh au 2
ros ad u a d by ausd No6
r rory o t sad aou hh as
pd Cur
) H d o h rs
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58
hrge of conpy hee no edece
egg volemet o accuse No.6. He
ee upo he juge of e Ax Co Ram Nat Maoprsd and
v
.
S of Mah Padesh epo 1953
SC 420 i Pandua andor
V
Sa of yderaba eo 1955
26. e ubmite h e cge fo the
oce ue eco 409 3 w oesashe e eie po e gme o
e Ap ou Ramawamy ada V
Te Ste of Madrs eoe 158 S 6
a U Dha and anoe V S o
Jd
and ths epoe 3
SC 97
SUBSSIONS ON BF OFAS N7 V SH:
M Panhe, he ee oue ppeg o o
e o7 me the proeo h o eme
ea we a so a o poe eea omes
Sok Reg a he Rgse egg movme o e he
Depame. e sumie ha heeoe vee neece
iae o e w o o exmo o e ee wese
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9
for non duon o matel documens H d my no o
h edene o PW6 Ahok W 3 Oph
W.7, W 9 d W8 He ubmied ta h vd wh
ught o eod dd no ndcae n any nn h h ed
No 7 w ay wy nvoled wth th alegd on In a nhe
h bm a nd:-
(a) dr re wa ble o be
drw gai the prsecuon.
() Th subna l
d
wnse o he oeuon
( h we tana non
bween ' Cn nd he o
nd h were my 300 nao
e o Canba
(d) he boo o aou wee no
ly mnaid
( h hag o iy h o b
hd ans the ued o
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60
SBMONS ON B OAS N08 - MK ASHOK KMAR
8 M. mi Dsai h lan oun aeang on bha o h
e No. 8 M.K shok Kma sme h chare No
4 5 7 9 an 30 wee me aa accs No8. H
sm h sa o rgum osecuo a
mae a samn h h were no rsn crgs re o
ao a 7/9/199 an 11/9/199. He nve m aon
o h semn o nsss on wic rlac w l he
roseon P.W, W. .W.7 W 7 o h relvan
oumns on wi rnc was y he roeon. I
ns sbme n:
(a) vr neee ws lal o ra
a he roon or no amng M
Jos souza wo e Dvsiol
Mag o . sbm a h
roscuon ma a aem o how suc
rson o s.
Thr s no mea agins a
No8 he omns on w relane wa
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61
pced by e rosecutio sppo of he
rge, id o eblish tht e accsed No.8
ws voed te commisio o the oece
(c) Ne o he dcmt o whih ince
ws ped eithe siged by the ed
No.8 or hd .
d) It w rgd tt no ss hd give ycrmg edece git he csed
No.8
e Tee w nether dct or dect or
ccmttil edece gi the ced
No8 respect o y o he chrges
The oy mtce gs ccsed
No8 w e w Ce Dee o C t e
reet me
H de deed bmisios spet o e eidence d
docme o record wic wd be oidered at he ren sge
Te eed Coe eied o mber o jdget o he Aex Cot
wich w deat t he eevt ge.
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63
and did not take any steps to ver wheer te expaton wa
coct or not He submtted tha no herefor made out y te
posecuton agat tese acused.
SSSOS O F OFAS 1 - BV SAS
30 T leed Coue appeag on behalf o ccused No11 BV
Srsn, sbmtted t te accued No1 wa e Juor Oer
and was Fnd Maager of nbons Fund of nbak Mual nd
He submted at acsed No1 was subje to dyto-day
uertendene and don and ntrol of acused No3 - B.
A Asisant General Mage, Divoal Mage etc.
He bmtted at e u No11 was meey one of e sgaore
along w e Gneral Manager BR Achaya accsed No3 for te
opeaon of e rren ccon of he anbonus Fud He sbmed
ta ce tere were no clea cut des and respobes ecfed
by he Management he Fund Maages wer not kig any
emen deon ey were merey dog aontig work o
e und e brgg he ons to boks of account as per
bak entes recepts d paymen He ubmed t the accued
No1 wle sg cheque for 8 99 ores and R 830
oes dad 0/0/99 whch are at Es 14 5
j
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hd mrly adhrd to e ucons ivn by ad No.3 B.R
Ahy H ubmid ht cd No3 - B Ahy d
d to id o q on 9/10/1991 ilf d
wr igd by ad No.3 a gory No.1 ad
asd No.11 h id h o igao r rn n
opion. H bmid th t d No3 ad eir gin y
omao nor dai of h on. H bmtd h h
atdane regir did BR Aaa no Mmbi o
10/10/1991 H bmd ha, hrfo ad No11 had d
mry on rio of ad No.3. H d my
anon o h mn of P.W19 - Invigng Oir. He
bmitd t t IO d admd o-xmno tha
m o d No1 wa o mod n h FIR He o
dmd dng ivgaion i aprd a th ad No3
hd gn tion on 9/0/1991 to ad No11 o ppa o
hqe dtd 10/0/19 ad on hq wa givn o aed No9
ohr hq givn o aued No.7 beg e rpeenv
of d No6. H bmitd w ormd by PW9 -
T whn h ni i anda gir wer ow o
H bmid ror th aed No.1 had ad good
th ad hd d o ntrion of h r ahoii e
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acced No3 nd tt te aed No ad no edo o oie o
aoty to queson e bonfdes of accsd No..
GS OSO
er ang perued e oal and domenty eece on
record n my ew proecuto ped beyod reoab dob
e cags agns acced No 8 3 5 7 9 & 0 Howee t
h led o e cg eveed g ad Nos 2, 4 &
for e folowg ro t ot erenfte.
32 ewee 0/04/199 o 06/06/992 t wa notced by e
Gvme tat ter wee lrge scale egure kg
acto d und of Pubc Secor Udertakgs wc were
veed n Naonalzed and oer an were poned o or e
pose o dealng n pc seurtes and ee ge amon wwere e r te pe of pbc seces we no aked p
y ny pysca cre or oer coaeral ecte suc GL
ec Sn, ereae e sm broke ou and e invesgaton was
mde nd a repor w ubmited by a Commtee w popry
own Jkaan ommtee w dscloed lrge scle
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66
glaes wi w commid by Publ Sor Undaking,
Muual Fund Nonzd B wi lp of bok. Th
vtgto w md y nta Buu of Invtigation (CBJ)
d mal omplait w gtd agat vou pon n
nt a omplt w odgd on 164 t 1500 o
and n omt on w ow ad 1 Si
S Mon Aitnt V idnt aa Bgao 2) Sh .
Blubmnm Atat i Pdnt, , Bgo 3)
Si B.R. Ahaya, Gnl Mg nb Muul und Bombay
(4) Si Ani aia, h Dl nb Muual nd
By S BS S Ro Assisnt Gn Mag Cna
Mutu und Bombay ) M/ abam Hknd Sha &
Sto Bo, Bomby, 7) Si tn P Daal Sa & Sto Bok
Bobay 8 S SK havi S & S Bok Bombay ( Si
Pa S Sa & Stok Bok Bombay (10) Si Mub
Manl Sa & Sok Bok, Bomby d ( Si nugopOf Ba & Sto Bomba a om t
wa gd ht l d d ot to bo o Bomby
d nd o opiay ad hd pond o R
7 7068,200- nd ht h d amount wa td a wot
ntt gly. n ompant, da o h v aaon
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he bee menoed a refud alogth teres so
dated t was leged hat cerin mou were pd to Paa
Seh hough a t me he owed severa ore of rpee to Caa
ad he sai proe, na ufered a os of R 312,87
interes th efet o 24992 l g of he copn
The chrge-seet a ed o 291996 n out of he
ae mentoe e FR ame of Sh Veugopa wa
dropped Sh nba l a expired by ht time nd,
therefore nme s so rppe om e hge-hee
mlay though he hargeheet w e agt Sh
arhia n S ayhda N Parekh, te me we o
dope he saio o proete was ge by KN. Kah
Chaia a nagig Drector of Canban Fl Seie td
ide eter o247796 dated 232996 for he proseto of N
Bubmam ccued o2 Shr .A Shea Chief xecte
Ofcer Cabak ut d aoed nto to poet P
Subbaa - aued No.4 vde leter No.CP & A/0196 dad
1996. Sr S oa aed No1 nd Sri K. Ahok Kuma
ased o8 wee remoe fom sevce uig etgato
Smar Sh B Aharya accsed No3 ad Si B.V Sriaan
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ae hd e he ee dg he cre f vega
3 The ae f he preu herefre, ha he d f
Ca wee veed ve dffee ac a h bew:-
Sr. Dat mn Seme Dd o
01.1991 729 bnu sd N.9 ad1 N.6.B
2 22..99 12 sd Ns. 6 ad7 BO.
.
1.11992 5 d N Bank
4 992 Lt ManuhaM
5 1.1992 s Lt ManuaM
d hereae he d were reed bck ugh eg mea
The am wa eeed m ak 1 & "I Se he
e f R 377,820/ hu he m wa remed he
fg maer ad exe am wa eved
l
(R)
7,0
,
,
ut vd fCanaa B F & Ic By
E vd
Pcul mo ated
() 172901% NC 12 96
4%N 745222
77060
378
03
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69
Ou o ese mns, fwig ms were pd o e r
acused:-
660. Hcud H P 8676M M 68
R 9
35 Durg e or agmes he leed Pub reor
M VG Prd mde eme h he ws o preg rge
n rese si ded 7/99 d 1/21992 epe o
rene R rre d R 7 rre om C o e
Mbi Mek Hee we oeed wi oy hee
o emnes ded //99 222/99 d
6/1/1992 d ever o he ue Rs 3772/-
36. ere I de wi e evee o rerd nd osder e rv
ubmso s ee o e no codeo he gnz
s u o e hree fca suo (a) bk Fn
Seies Bglore () b Mu ud my
CM d (c) Cb & I Seio omby I so eesr
o be ider e mn n w Cn eered o
o o e d use o eue
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7
37. Qa i 100% subsidiry of Canbak. Cana cayng
on busness of leaig, gher purhae ad mehnt bakng
acviies As a par o merchant bakg atvties Ca made
vesments stok d ao the seonda make .e sale and
hse o shas. PW5 is evidene tated ht he joined
Cnara Bk n Deember 1971 and Novembe 12 he as
deuted to Cana s an Asst Ve President d he bugh
on eod Memondm and Artles o Assition d the sm
mkd at eered under he Compaies
Act and cuse 20 o Artcles/Memorandum o Association,
aozed o vesents Govement and othe
secuies, nldng shres Unde clause 21 Cnna was epoweed
to lend, advace money wi or iot secut However, y vrue
o the id cse, it w prhed m dog ny busess o
bakg deed he Bag Rgaos t a hs its
local Oce in Mumba d also has ts cont a B
Mumbi (Emphass suped)
38. sed No1 S Mohn w Asst e Pesden ad wa
wokig at the ged e o at Bangalore. Aed No.8
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MK Ashok Kumr was Eecive Vce Pesdent, wokg he
me Oce d aed No2 N. Bubama ws Assa
Vce ese workng e bcup depme of e sme Ofc
W.2 Mr. BN Skaa has s so eece paa 6. He
so sed ccused No.8 MK Ashok Kuma a aed
No1 S Mo wee auhorzed o buy d ale secies o behaf
of Ca
39 u d M i us d ws hoze
o mke esmes nd o ed moe d me
dces d had accouns Td Le Brach of Ca
B Bomby Clae 5 of e s Deed empowee e
ruse (a o cq hod mge, de ad dpose o sres d
debeues () bow o otee e moey wh o io
sbjec o he ms s my be ecded by e Tsees.
a B aoae Bak d is m use of MF
40. he sceue bk i r oaze or ohewse
wee eed ough he decos sed by he B om e o
e d hese decos wee ued ude secto 2 ad A of he
Bg Regao Ac
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72.
PROSEION WF:
41. scto s exied al 9 wtees O f tee 9
wsses, PW. 1 Ms. Vit Sd Hegde (-3) P.W 7
Mr. M. Papa Rao (Exit1) PW. 9 M. Rv Tumaai (Ext-
PW 15 M. Gr Anarma Sea (:ibit28 ad
PW6 - M. SRaa Exit-130) are al Cbak winess.
P.W 2 Mr. BN r (Ebt6) PW 5 - M.
augmli Rabdr Nat (Eit-56) PW 6 Mr. K Asok Kuma
K Eb-S, PW. 13 - M Omr Kian (xb-23) &
PW 4 - M. K Naasima Ka (Exbit-26) a wsse m
Cana
PW 3 Ms ia Madar (bt-3 and PW 8 - M
b Ray (Ebit) bo were wrg Bn o Ameic
P.W. 4 M Ajay Kmar Nagedra Kr (ibit-49) i a
wtness wo w wrking the Tamard Lne Bc f Caaa
B
PW. M. Di Jagmandas Ummrgowa (xb1)
ad PW 1 M Kio Mde Agaor (Exit14 wr
wkg he k Exnge Brc Bank o India.
.W. 2 - M Vash Kma Damaraj (it- 88) was
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4
poiion o bing o ecord any de eidee n pect of he
eged ml nspcy hed ewee e acued. It h,
hwever atepd o prve he harge of ci opcy by
yg o ng on rd vee of ds o Can o Cak
M Fnd (CBMF) nd here to he epecve boke d
agn re o nd o e ke Cnk Muua nd
CBM) and iatey o Can Tugh e evidee Can
epyee he prectn ha aed e er i wch he
prhe and e of ecie wee de and he pocede t
oowed n epe of keepg of d The poeuin
exined CBMF empoyee hw ey had eeived fud ad
the duent t etaih npray hve been ough o rerd
Theeer he oun of he indivu ke i vaiou
uh Bk of Idi, Bak o Aea, And Bak ec ve een
bugh n ed o hw t ee au wee edied n he
d on Corepondigy he proetion e
hugh
e che r e o cure feed Sda Book puse
hee ecriie "RV' & 14% NCD" o e reevn dae o
whch puhe w de n gured n Sada Book and
erefe, i ha gh o ge h ee ascion o puh of
eie wee io d ogu acon d e oney in
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7
ct, ws siphoned o oug brokers. Frter it ged a
eres wee made to how t the was a wrog remte of hat
patr amot releed the asto eh of he ree
dae (bease i respe of wo aos e o R rores d
7 ores ges ave o ee presed y th poseo) d hese
domen were ae o alered to how t he wrg emae
rep. I argd hat ty i w show heedoume ha og eme w mde o CB d late o
wod "CB soed t gued ws doe o
suppes asr o uds m CBMF o okes ad whe the
amo was repad it wa ot show hat was repaid y CMF to
Ca Proetio has oiousy ought o eord hee
doume to esah te of tavelg of d om Po e
om Caf to PotB CMF o PoC ie rkers ad PoD
e ga r-ow of moey to C i rd therefore t
wiho erg reeipt physa fom o seurties whe purhses
wre mde hge u ros of rupees we dveted t
gued y the poseco hat aued No1 SMoh ad acsed
No8 M.K. Ahok Kuma were ot auhoizd o de prhe d
se o ses yod the parulr mi ad ye wthout
ahoriy they hd alegedly eered o h atio d
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6
eer, ey d commtd oence of cmnal beac o
puhbl nd scion 409 o I.PC ad d miaproprd
on and commid an oence hble nde econ 03 o
IPC. and cio 1() (c ead w eon 3 2 o e revenon
o on Ac and or rpoe ad crad cd
doumn nd eore, had commid oence uab de
con 7-A o C
n he een a, bmion mad y e led co
e ad t e no dc or dc vdnc to ow a
hre wa conay dir nd m nn o oke
nno ad t wl td law a dc o ge
direc ednce c o opic o cmm n onc and
e o circumana edc can o ccmstanc s to b
eahed w pon ot o gi o e ccd Jn e
en poon ner al ha ccefy brogh on
rcod dom dnc o a
Comany grd ndr Coni Ac 0% dry
ony o a C Ba wch a naonaled ank Thogh
ile 2 o Arcl o ocaon pmi nna o by and l
ci and o o nd money wh o iho cy, by ie o
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77
e prvi on 21 f te Bakg Rglatns Ac and h
gid-n ad dwn by t m o m wi v
ttu c, t dd nt th trty t nd ny ne
"d b d y b bak ag t ri
f tn 2 f t B gn A d, adtdy Ca
w t bank ang f ad t. h n
n hat CB nt rhng r ng r n ba
Cana PW. 9 tatd ed at CBMF w n
hng r g r n b f T dn
n bn d by any d a bng
oo w o qo o m o n
w wr td deret aat t CBMF. CBMF n
t ad ar g rd ny Caa wh
ardng te r w wr rad by r a
ad N3 and ary ndtd at t t w wng
ttd Ca t CBMF ad n wer t wr
wg ta rd y ad t t bak
Caa aed N.3 n t y td nt t
t bkr asd N.5 6 9 ad 0 It n brgt
erd ht day wn t yt wa ad
Ca t CBM th a day r n day r tat,
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9
by shg a ere wee osnsle pue nd sale anactions
sds esaled m he evdene whch een rogh
rrd. T idene ery estahes ased Ns nd 8
d n autiy o ener nt ans ynd e prul it
ye, o ag saon om e hgher oers hey eaed
rrd song e Deal Pad enes d eme the amn
CBMF A a d e t BMFs end ased Nos 3 and reeivd
money reaed vers to shw a e mn s rongy reivd
a nd ye pd th amon o he rokes T
esalshes h ws n aal an een ged
ehal ed at ere s n ass for he prscn ca
t lransato prs d a setes were enerd
he Sauda Book E amng r h se gmns ha h s
e y h voers wh wre prpard y he als o CBMF
shw h ere ws n sh nan ewse tey would have
reaed erd t nda a he mon was reed r e
prhse f L N sees On h n he vohers
dae a he amon was ngy rmed o CBF Copled
wt ths hee evdene on rord o shw h CBF s nt
delg purhse r sae seues n el o Cana I
Cana aned o purhse a sle series ould h doe s
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82
upo R 50 crores per acon, e toal no exceedg R 300
oes pe day for sae nd pchase epaaely. Under Exhibi-18
wch are mues o he Bord Meeng daed 30/11/991 powe
wee delegaed as ecommended der Ex17 y hb19
wh a oe oe daed 2391991 he Mng Drecor
ecommeded deegaon of pow o Ahok um accused
No8 The recommedo were mde y ccued No2 N
alsubrmanam nd K Shenoy wh urher recommendao by
M PN. Narayanro who w he ecuve Vce Presden he ofce
oe w aso gned by he Mnagng Drecor M AP Ro
49 In edence PW6 Mrsho um n(herenfe
rered o as "A. n i oder o avod cofuson as ccused No8
MAsho umar) has gven deas regardg he mane i whh
he prhse and se aco were mde n he rnsacons d
0191 221091 & 16192 ce we concened puae ofshae shal ve des egardg he mae of pchse of shres
s saed by PW 6A n pra 11 and 5 of evdence
PW. 6A deposed o he eec ha In case of prhse of
hare, he sons were cocluded by the chef dealer of Ca
a Bangaoe on eephone wh he boers On concluson of he del
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83
h would note it do i Sauda Book and paymnt r o
pucs a and wn i o mad s ddd upo by f
dae d wod v nsucons on on o Caa Ba
Bac n Bombay o m e paymn on ha o Caa. We
uing, e wod o convy o pon IBA ub Te
C dr s woud w dow IBA mbr w n
t C Bak Bombay i IBA Ise Regsr IBA i
ppad y Ba oc s p sons JBA rer wod
oain IBA nmbr dat and Ca Ba Brn nm and th
amon O t ba o ese detas ba oic woud pp
q vog Canr Bak Bnc i Bagaor On
bs o at eqe h Caara B Br wod pr BA
whh s gnry kn y o by Fuds Dep o Can
Bngao a n o o Canaa Brnh i Bombay Caaa
Bk at Baoe woud dbi accont o Caa by amon
o e cqn o a Cna's own rsacon o e ad
pa e armn ha e ous ppaed or l
d urca on bai o aa boo e ohs
prpd a intera ad ot on day a o pa d
as on b o Potoo iens ar concd siar vouchs e
paed by e B Dprm o Fns Dparm4
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Vouce would ontn e nate of e eit, qnum phae
o ae ate e boke me a he aggegae mout reeivable o
pyble. I o f Cana' own asacton ae onceed te
voe e ep n te nvee Depame wh wa ue
me nd the oche would e ged b me o r te orto
nto ae oee te oe e peaed b e Ba-up
Deptmet a oe o the O wog n e ack-up
Depment The Cheue ssue Regte maed b e Bakup
eme the ouse o bue of n"
O PW2 - B Skanth w te Fnd epe o
Cna. He w matag e egse ad ent se a
ued o ated he oe ba wo l pepg ee He
te that acued No8 - M A Km d ccued o.1 S.
Moan wee wog ele n F Dpatm He h te
t he deae us to me en e eal a He h aed
hat aued o nd sed 8 e t ve m e Pd ad
heeae W2 se to xeox o of te elevant ea ad -
the po o ma enty n the eod d ae tng out xeox
o te og eal ad was etued a o ae o. o
aued o8
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85
5 PW. 1 - Mrs Virt Su Hegde tted her
evdence ht e Bakers o Caa, Bangalore we Ca bak
Cgham Road Brnh The heqe dw by Cnna i cse of
pae o seriies we n avor o Ca B Cnghm
Road B, Bangalor s doe by PW2 BN Sanh a
e he ons o acse N2 - N B asbana n
ai o IBA
W 9 - Mr R rl h he sad a C Ban
Ml d (CBMF) wa a ceated by he Cra B whh
he ee and a e relean e had
aroxaey 13 nds and whh were sed o e lled rd
and here wee dfent sees e Sae CN Gowh,
CANCO, CNL e
s evide ebhe ha oney w enrsed o aced
No 1 & 8 and a a oe ws se se o rchse o
eres
E F L F 17 2 F F 10.09
3 n orde o rove he oeen o nd o Ca he
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86
o R 1.29 os ad h ulma dsaio of hs fds o
h vrous aons of bos, posuon has xmind
WNos 1 2 4 6 10, 18 ad 19 PW. 2 and 6 a om na
.W. 4 om ara Ba Tmarid La Ba Mumai, P.W1 s
aak mpoy PW 9 s o anb mpoy. PW 10 s
mploy a of d W. 18 s h Accous Asssn o Soc
Bok Ms Nrbhram rchad, PW 1 9 s h nsgaig
Oc
5 PW2 a 2 dposn sad acd No
Mohan and acud N o.8 - MK Ashok Kuma w da Funds
Dpamn ad y nldd h dal as sad ha hy sd
o pacuars Dal Pad. Ausd No.1 mad ny
hdrng sp f pchas on 10/10/1991 o RL o h
aggrga am of R 729,00,00 om L ndicas
anc dsris mid. s h lumn ad
eadyfow d( sum o R 89cos o Rb a
pero dat
o 2. Th ry fuh dcas a
amn was rmd y IBA N.3200 r R 8 rors and BA
No207 or R 92900000/ om aaa Ba amrid a
ah omay. T al ah s id aEib h
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87
prosecution then reed on the evene of P.W 6 M A.K
PW 6 hs alo staed te same g a hs been saed by PW2 In
para 18 he stated tha i the BA sse Regste No thee s an
en wih regard o BA No 3200 regrdin R 8 crores ssud on
Tamarind Le Branch, Bombay The sad enty a Exb-3 9 At
age 63 here s n en regd to BA No3207 T ent
gadg te amount of R 929 ores i ssed on Tamarnd
ane Branch Bombay I at Exit-40 He sed tht thogh
hese BA numbes are same s a mentoned t-59 e tot
of the amoun of hee to BAs R 17 29 ors w he
amont menioned Ex59 (msis suppied)
55. W 6 evidence para 2 s sted at e Sauda ook
w mantaned by Cief Daler i wch the sle n purchase
nsactions were menioned. n par 9 he h sted ada
k conted 70 pages nd was for e e m 27/05/199
to 29/05/992 nd onted enry wh rgd to sale nd phse
of shs nd alo other securties. Upon being show entes on pae
5 e statd tha the enres on t age were r he eriod
beteen 3/09/199 nd //99 respect o October 1991
here wee v ntes $ Nos 3 t l Nos 35 These
.l
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8
entes wee boght on ecod xhit-0 oly. He has ther
stated tat as o wigd Pad Eibt 59 In
he evdenc of PW6, he has sated a the paymen fo thoe
puces ad wen t was o b mad as deded pon y the
Ce Dee nd he would ve nsto o elephone to Ca
Bank Bch Bombay o make paymen on behalf of Ca H
wod so ovey o eepone BA nme he Chef ea
msef wod we dow te IBA nmbe te BA ssue Rete
wch wold conn BA nmbe date the nme of cara Ba,
Bobay and he moun. W 2 staed h deae acced No
s. Mon d acsed No8 M ok Kma sed to ve ea
ad to m and wod ke xeox copy of te elevant ea Pad
te ppose o mkng eny n he BA Reste He as stted t
spe of on t ey ws o page 2 gad to
A NQ_32100 gadg R 8 coes sed on Caar Bak amad
Lae B, Bomay The ad enty t Et9 and espect
e ot on page te enty n egd o BA No.2107
egadg aon o R 929 coes ed on Bak Tamd
Lae h Bombay e enty s at xht40 and the BA numbes
sme s we menoned n t-59 he total amont o p
JBAs was R 729 o h was the ont mentoned n D
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89
Pad - Exbit-5 and o e enes n bs-39 ad 40 wee
hndwng of acusd No1 S. Moa W 2 as ur sad
Baup O would pepar a q on h ss o
deis and, acordingly, a eqe drn n vor of 'orsevs
IBA on Tmnd Lan Bomay r a sum of 8 s was
rie y W.2 d sigd y N Nyao e rur smp
idated h e amon ad e rsfrd marnd Lne
Bnh of Cn Ban Bomay Te s eqe is a Exb-21
W2 e sed e prpd aor e n s
o drig dad 0/0/1 o Ca Bk Bgao,
drwn i vor of "Yoursves BA on Tmd Lan, Bomay for a
sm of 200000/ and s sgd y AK e s
ceques a Ex2 and 2 w dposied Caa Ba
Cunnigm Road Brnc and enry n sp of te said hee ws
mad e saem of Cu Ao No 266 mied y
h wh Caa Bak Cugam Road Brn Bango
wh is a ii162 W 2 r sd o ass o
th qu, Cd Sps we prpd y Bacp Dparm
w wre a hbis22 d 24 respey resp of wo
on Aordgy te sa wo amous w rmid y
C for edi of CBMF (Empss sppd)
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90
56 From he bove evee te poecton estbsed tt
he mot o 79 croe w emtted b Cnn d ws
eie te cout of CBF. The posectio s estbed te
emitnce of 9 croe om C to CBF i repect of e
s tston dted 0/0/99
57 Aer e mout ws remitted to CBF it h bee
boh o reod t e Cb ul Fun d ccot wt
Cra Bn Tmi Lne Bnc d r ws mde om oe
Bc to nothe Bch b elerapc rfr o m re.
Te ed ofce of Cara B i stted t Bloe
58 he Cnr Bn Tmid Le B umb ecee
messe o poe om the He O d t preped mm Debt
Sp Hed Oce Aont dted 0/0/99 for um of 8 ores
d other Sp for m ofR
99 core d bot tee mot
were credted i Aot No 3980 of Bn d debit slp ws
boht o b W 4 M A Kmr Nedt
t Exibt54(
59 P9 - M. Rav Tium h depoe edece e
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mittanc f fd CBM m Baa, wr n h
frm f IBA d h Cana Bk Tmrnd L Bah wa t
bak nitay BA nmb d b yd tph by
y al m a Bgal ad, tratr, h phycl BA
f h am nm d t b vd m na Ba ad
m tat hy w abt th ra m Ca Bagar
ra Bak aJard Banch. Th d wd thn bfwardd th prcrbd frm fr d d
(Sm) accnt ad pyic w civd BA nmb
wd b mtd pbd fm. a hr tatd tat
r w xt t f C Bak CB tf
60 P.W ha tatd th nrmay am wa
rngly rivd, it wd b back t h d ha d
a traa hr wa in rm pac
d that acd 1 BV. Srvaa wh wa wrkg Fnd Mgr B rct Scrtay .W
d t prpar chr Adgy, h pad vhr
hadrng v w i tw part at w
pct f dbi ny and h wr pat w n rpct crdt try
hr b prdd at xbt-7 by P.W t
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92
uppr p of he docment, th a mtio of "C bos d e
debt e amo 17.29 or. T amuw dbied
SundCr ers ct.
was o do h mout wa
wogly remied o Cabak Ma Fd, Bomba T debt enry
md by PW s per ruon of d Mager M BV.
vasa - used No. The owr pr of he doumet Exit
78 th rdt part refrs o he mou of 7 o g
dt to Bakrs amd Le er aso refern o wo
Chq No488905/906 e dorme "a amn
wr
d o CBMF y by Ga Bglore. w
re
ai
d.
I dormt h word rmttd to Ca
gaor wr sord of d the word rpad wa wrt. .W
ha atd that s do r cons of M. BV
Sva asd No. (Emp uppld)
Aed No B.V Srv r gng ro d
prpro of voer at 78, preprd wo e
ow hdwrt wh d by m ad aoe ccd
No.3 - B.R. Acry Oe of CBM e he dted
00/199 or m of 89900,000/- arg N488905 d
ao o s SK Jer ad gd y acd No BV
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93
Svn a aced No.3 - B. Ay n anoher hqe ate
10/ 0/ 99 for um o R 8,000000/ brg No.488906 ue
vor of Nher Hrkh n ine y cus o
n e No.3. Boh chq o eo Eiit 4
ad 5 epevely The prouo' ce heefoe o e
one ce No h cr rcor o how the
mount was wrong reve m C ite t e
cont of CBM o te or a ne o mig
moun ak o amoun w o heqe o
e No6 n No. 9 & 0
62. Ae No. BV Sv armen h umit
at he h rien oe euqe n tio o ce No.3
B Acya who w upeio oe an he wa meel
mpemeng e irios vn y ce No.3 A No3 on
h or
tke rnt ee whih
onere
at pproprite ge
6 he poeuo ebie a o aec reg
w w kp y CBM xhi0 a ee rgr
e of cc No BR Ay o 0 h n 2
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4
Ocb 1 w brugh on rcrd 052 cvly
Ts ws show sablh h ccd No.3 - .L Achya w n
Mub bu h w a Bgalr f ocl du T docun
n bugh on rcd by PW. Th ns rspc f
ndanc o acusd N B Srivasn woud show ha h was
prsn on 0h h d 12 Ocobr, ad hs s
kd hbi 0(3) cllcvy. Ts w show abh
ha acsd No. w pn on h said das.
64 ordr o sbsh ha aun was ac, dpsid in
h ccoun f s Nbhra Hrakchd h prn xid
PW 8 Mr Muksh Johi Ehbi44). P.W has d s
Nrbhr Harakhad was havg accoun wh Bak f Ida
Sck ng Banh ad a , accusd No. - K Prh
d accusd No 0 - Naandra Parh wr h parnrs. H has
sad a h usd ppa chqus pr srcs of ccsd
No Kan Pakh. h dai wr al giv b fr
prpaaon of chqs and h usd o gv araion f h
acos. I rspc o chqus cd ohr pas h
sd o b dpsid ccn h Bak o Inda, Sok
hag Brnch by P.W. 8 ohr s bs. H has sad
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95
a hqe N.88906 dad 10/10/99 f R 8,3000,000/- sd
v f M/ Nbhra Hrca ignd by h acsed
N11 B.V Sva nd asd N3 BI Achya f CBMF and
chqu wich at Ebit- 15 w depid t acnt f he
eng aount N 1400 T ws deoitd by f cd
sip r a s 86,0450/ ad h vr id f he
edit p i nind Caa B Cheq at E- f ant 83000000/- d secnd heque N.48891 fr R
260640. h credit s hs b id at Exibt-1 The
scutin ha thfre ealihd t e chequ wch wa t
e rmd bac C wa fac, md t accd Ns
ad 10 h parrs f M Narbherm Hakhnd y eqe
wh at Ext15 wich wa nd y accsd N.1 - BV
Siasan and accsed N3 - BR. ya. Tis dit sip as en
ug n rcrd by PW 0 D Jaghnda Ueganwa.
W. 10
rght n rcd Ebi1 ad 113(1) wh
fle:ed he d nt rsp cdt sp B f d ded
0//991 f m f R 85606,0/ he stent f ac
f s Ne Har arg acn N1400
03/10/991 31/10/1991 B f Ind Sk Ehge
B
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96
Aer he s mu ws ve ccse N. 0
Nancanra rkh sse cheqe k ni arin
N577597 e 0/0/99 fr R 8200000/ r f S
Jv - acce N6. Ts ce ws sgn by aus N0
Navchnr a. s che E- 2 The rsecn
h s sbshe n he sam y, : r rev
8000000/ accus N.0 mi mun R
8200000/ accs N - SK vr A h saemen f
n a Exbi an (2) sws accry bi eny
was me fe e paymn R 2500000/- h aun s
Narbheram Hkn Prsecun se eere e
acse N0 - Nananr r uz amn f R
8000000/ ch ws igay reci m na Bk hg
ee ws n el rcn re any securiy much less
purhas sal 4 NCO. he acun Narbhera
Hrkhn wch is p bala a n
0/0/99 ws 444828 n sg balnce n h
w R 622286 hes es ae exi Exhbs
an (4 svey
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97
66. Out o t ohr h for 179 cros wch was cv y
BM, again acs No.3 - BR. Achaya an accs No11 B.V
Srvaan ssu hqu bag No88905 at 10/10/1991 for a
sm of 89900000/ vor of Ms SK Jhavri wh
sig by boh h acus an wh is at xbt 4 Ti h
wa osit by acc No.6 - S. Jvri in hs account No19186
wi Bak of ni, Soc xang Brc Mmba by pay-nsp o
Bak o Ina on _sm t. h ay-sp bn brough o
rcor by W 1 - Mr Kshor Mahao Ajgokr a at Ei
1 7 an t am an a of chq at ibi-14 lly wh th
ay-si a Ehibit117 roscion brought on rcor h
statmn of accnt of accs No.6 S.K. avri barg accon
No.1986 wh Ban of na, Sto xchng Brnch, Mmbai a
statmn s at Eit15 a th rvat ny rspct of
m of 8,99,00000/ at 10/10/1991 s mar a Eit
151) Frt posction h bugh on rcor a ch
barg No370306 ss by accu No6 - SK havr at
09/10/99 r Rs 4,765,3/- i vor o Sto xng
ar Hous which s a Ehbt-1 16. con cas ta th
opin baanc of h sai accont w 9,1,8660097 which i at
it 115 an h hq avo o Stoc xcng arng
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99
Detment and tey were e pesons wo were onudg te deal
on be of Caa. Ased No2 - N Balrma made n
enty daed 22/10/1 991 n e Deaers Pd o Cna, Bangaloe
egrdg the urhe o 12 res 14o NCD om Muua Fund atR
100/- R 12 res and alo menoned IBA No325 1 i e
Del Pad Th was to ndate h n amount of R 2 oe wa
emted y BA No321 1 on nra Bak Tmrd L Bc,
Muma PW. 6 - AK Ki oved he ad doumet and i mked
Et-6 he Deal ad s e d g of accused No2 - N
Blrmana oseto se tt ae e deal w
coluded ene would e made he Sauda Book d n ae
wee deal wh wee not onuded o ene we made the
Sauda Boo PW 6 h aed t the Sada Book at Ext 60
cy dd not onta any enty regard o ansaon dated
210/199 r R 12 es
68 he payme or ese ps wod e mde by gvg
uon on eeone to a Bak Bn, Muma wo e
red o mke ayent on eha of Ca When uh
trucio wee gven to a Bak Ban in Mma he Cie
Dee wod ge ion on teehone and he used to ovey on
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0
No.26645 maintaied y Caa wit Can Bak Cnngham
Road Branch, Bagalore nd it a Ei-62, wic indited ta
the ceqe deposd wit anar Bak Cnm oad
Bh Bgoe
70. P.W.2 evdee hs sted t e credit slp wod e
prepared he Back-p Deprtme of C Bglore o te sof the cheque a Et-25 and his was submted to Cra Bank
Bc at Bangaoe w A o3215 The amount thefor, ofR
12 rores oly emitted y Cana to te credi of CBMF
Ts credt sp edp y .W2 en exited Eiit-26
rosection cse is at n te was o dea y Caa wth
CBMF for tns of 12 roes.
71. W. in i evidence as sated ta e asr of moey fm
o Bch to aoer Bnc was mde by a tlegrapictfe or
y ma tsfr He staed tat o reevg the messag o
teephoe om the Head Oe Caaa Bk amarid Le Bch
Mmi prpad redit adve dated 22/10/991 of Canra Bak
auhorzg cedt of 2 ores to aot No314 CBMF Ca.
O ts rdit advise M Mani ad pt s initials Tis edit advse
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12
a Exbit ( Tis bi shows a an aoun of R 2 roes
was eded o the accoun No.39 of Cango T saeme
o on was maked fo idenifcaion by he Invesgag
Ofce PW9 d s son s 8( o X8()
72. So as b abisd by prosecuton t e mone
C o ba Ml F CBMF). Ae he
ou eved by M ode o esabsh wa appened
eee, e poseuio s emed PW 9 Rai iai of
e CBM Mub. He hs saed is evence ta e nds
which wee emtted o CBMF were he fo of IBAd i was used
be oveyed o eepoe by ny oic om C Bagoe
He se e pys IB of he same um used to
ome o Ca Bgloe He s sd a ae pesig IBA
ey ed o ea au n of ds o Ca Bgoe
Bak Tmad Le Ban Depending upont scheme to
wh was ddssed i woud e foded o e d ds fo
eecing cdi i ds (Scemes) acco. H has fuer sed t
tee as exeso oe of Ca Bak M isef (ps
supplied).
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03
73. PW 9 brought o eod E- 104 wih he oce
py of he leer daed 22/0/99 of Canak Mal Fd
addressd o he Mger Canara Bk, Tamard Lae, Bomay
Slly Canak Mual ud also has addressed a ler o he
Mager Bak or Mke daed 25/0/99 elosig IBA
No32 daed 22/0/99 r a or R 200,00000/- he
d lete a Eb-03. h
at e aun of R1
0w
w
rm
it
f
m
Cana was byCBM. He ha rer ed t he voucher
dated 22/0/99 pepaed n he hdwg o oe M Rajesh
Pwa ad coed poo; he uppe poro de
poro d e ower poo was red poo and elow he
gnatre o Mr ajesh awar PW 9 sged se he
heked He as sted hat accued No PJ Subaao ad
sgned e vouhe o appovl s de vouhe a
Exh-02 PW9 rher saed he de poo o he
vouhe enoned ha he out o 2 res wogly
reeved o na' Aou. He ha he aed a red
poo o he douen however showed ha n ot o R 2
ore was pd o SK Jhave vde heqe No8737 per he
to o Caa Bagaloe He her saed , n
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1
norma couse he amont was gly rive by CBM on
accon of Caigo's Cen nt it wol ave een emitted
ak to Cafa. However, in he pesent se tea of reming he
aoun o Caa the aon wa pai to SK Javeri y ceqe
No.587347 He fuher state he not persony kow SK.
aver hough he was one of the okers eag with CBM. The
evence of wiss esshes t hogh in he reco of CBMhe amont was wrongly rceve y CBM tea of remtg bak
the ai amount te money paid SK Jhaveri voche at
Ehit 02 was signe y accue No.4 PJ. Suaro
4 W - Timai as e state t one ay ee
e asaction ie on 2 M B Acarya - accs No3
ake to pepae a heqe or 2 croes ourg S.K
ave He has s hat ere the cheqe was prepare he has
ke B Aaya e eason why te cheque wa to e pepae n
our of Javeri. He h stte hat BR chaa tol that he
shou pepae he heque an g it to m an theeafte he
wol io aou the natue of aactn He st tht
te cheque was prpare y m an gne i an sice he cheque
a e signe y one mo signaty he took the eqe to
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5
Na and when e did so e was aked by about he atue
of tasacon involved. PW 9 has ten sated at e iomed
wat tod t by M Ay d, erefe A Narcha
o sged te eque He en ook ceque to BR Aya Te
eque n e andwritg o ajes Pw P.W. 9 s e
stated at toug e ceque pepred o 21st te dte on e
eque was put as 22/10/199 Te eue at t-78 PW9
eeoe esbed a te eue peped at e
tace o ccused No3 BR Aharya
5 P.W9 s te stted tat on 22/10/199 cued No4 PJ
Subbao iormed PW9 tat a amunt o 2 s ad been
eeived om C Bangoe toug IBA d it was met
Cgo Sceme PW 9 e sated tat te commo
attedane Regte was kept o oces ad saff y CBMF
egte o te mon o Otobe 99 boug on ecod at
E10 d n wic it mentoned tat on 22/10/1991
oce v M . Ased No.3 M P Subbarao
accused No4 nd M Al Naiaa wee pesent t h bee
estbsed by e psecuon t he aued No6 S.K. vei nd
ccused No7 - Pav Set ad ot Accout beag
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N.0478601 Bk Aeca Mb.
76. PW. 8 - Mr. Prnab Ray a tated n edence that e wa
wrkg he Acut Deparent Bak Aer ad tht e
ceuqe daed 22/10/191 Canara Bnk earing N.587347 r a
f 2 re w ued in ur .K. Jhaer at Exbt-78
ws deposted i he Jont Acout No04786011
acued N 6
S ae d acued N7 - Pala Seth wc acct
itied i the Bak Aerca Mub PW8 h tated tt
e ceqe depted by y paynlp Bk
Aeria dated 22/0/99 f a u f 2 re in epect
heque beaig 58734 7 t the credt he Jt Accunt M/
S.K Jhavernd PalvSeth. Te pin-slp had been exted at h
ace d t at 79 ad the cheque wih w deited
h been mrked at Exht-78.
77 PW8 h ther ted n eene that he peng bce
in e d Acnt 220.199 wa 1578947223 nd
e e eque w credted he accun, the aun ued
r kng payent t Mr. R Bhra e ceque dated 2/10/1991
r 5937000/- Te ad ceque a recd at t-80
8/9/2019 Ketan Parekh 1992 Stock Scam Judgement Special Court Mumbai
107/245
1
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bg n recrd b8. ner cee 83 f e
sme de f 63/ ed by Sre Jver ccsed N6
vr rm d l brg n crd. PW. 8 s
rg n recrd w me cee 8 nd 8
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