IN THE HIGH COURT OF JHARKHAND AT RANCHI
B. A. No. 2870 of 2011
Subhash Kr Gupta @ Subhash Kumar Gupta ......... Petitioner
Versus
The State of Jharkhand through CBI ......... Opposite Party
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CORAM : HON'BLE MR. JUSTICE H. C. MISHRA
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For the Petitioner : M/s P.P.N. Roy, Sr. Advocate
& J.P.Sinha, Advocate
For the C.B.I : Mr. Md. Mokhtar Khan, Advocate
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3/ 14.07.2011
Heard learned counsel for the petitioner and learned Spl.P.P of
C.B.I. for the Prosecution.
The petitioner has been made accused for the offence under
Sections 409, 420 and 120B of the Indian Penal Code and Section 13(2) read
with Section 13 (1)(c) (d) of the Prevention of Corruption Act, in connection
with R.C. Case No. 11A/05D.
The case was instituted on the basis of the written information
given by the Deputy General Manager, State Bank of India, Zonal Office,
Ranchi to the Superintendent of Police, C.B.I. bringing to his knowledge that
there was a fraud of Rs. 1,25,47,950/- in State Bank of India, Dhanbad Branch,
Dhanbad, wherein, consignment of 58 boxes of soiled notes aggregating to Rs.
16.82 crores was sent to R.B.I.. The R.B.I. returned back the entire consignment
stating that large number of notes in higher denominations had been exchanged
in violation of the R.B.I. Notes Refund Rules, 1975. The petitioner is the private
businessman and he is not named in the F.I.R.
From the impugned order, it appears that it has come during
investigation that one Om Prakash Kesharwani, who was a private money
exchanger, had purchased deliberate cut notes worth Rs. 17.00 lakhs from this
petitioner Subhash Kumar Gupta of Kolkata and the said Om Prakash
Kesharwani had supplied the same to one D.K.Ghosh, who was an employee of
the Bank, at the rate of 2% illegal gratification of the exchanged value.
Learned counsel for the petitioner has submitted that the petitioner
has not committed any offence, inasmuch as, the petitioner is the license holder
for exchange of notes and the allegation is against Om Prakash Kesharwani to
have exchanged, the deliberate cut notes worth Rs. 17.00 lakhs purchased from
this petitioner, with the Bank at the rate of 2% illegal gratification. Learned
counsel has accordingly prayed for bail.
Learned Spl.P.P. appearing on behalf of the CBI has opposed the
prayer for bail and has submitted that there is active participation of this
petitioner also in the entire occurrence and the telephonic conversation between
this petitioner and said Om Prakash Kesherwani goes to show that the petitioner
was also involved in the racket of exchange of notes. The telephonic
conversation has been produced in the court.
The said conversation was also looked into by the learned counsel
for the petitioner and lastly, learned counsel submitted that the petitioner is
ready to deposit the entire amount of Rs. 17.00 lakhs with the Bank.
In the facts and circumstances of this case, particularly in view of
the fact that there is no allegation against this petitioner directly, to have bribed
the Bank officials, if petitioner Subhash Kr Gupta @ Subhash Kumar Gupta
deposits the entire amount of Rs. 17.00 lakhs in favour of the Bank, I am
inclined to release him on bail. Accordingly it is directed that and on production
of the proof of depositing the amount of Rs. 17.00 lakhs in favour of the State
Bank of India, Dhanbad Branch, the petitioner shall be released on bail, on
furnishing bail bond of Rs. 20,000/- (twenty thousand), with two sureties of the
like amount each, to the satisfaction of Additional Sessions Judge-I-cum-Special
Judge, C.B.I., Dhanbad, in connection with R.C. Case No.11A/05D.
It is made clear that deposit made by the petitioner shall be without
prejudice to the right of the petitioner and it shall be subject to final adjudication
of the matter.
( H. C. Mishra, J.)
R.Kr.