Case Law Details
Bhaskar Banerjee Vs CBI (Calcutta High Court)
Facts- Mr. Partha Das Chowdhury and Smt. Baisali Mukherjee, two directors of Emotions Infomedia Private Limited, applied for cash credit loan facility before Opposite Party no.2/ Bank. The petitioner an empanelled advocate of IDBI Bank/ Opposite Party no.2. prepared a favorable Search Report on the basis of two Title Deeds of immovable property produced as collateral security and cash credit accommodation was sanctioned in favour of the said company. The Opposite Party no.2/bank initially sanction a loan of Rs. 100.00 lakhs on 15.07.2008 in favour of the company against current and fixed assets of the company and on Collateral security by mortgage of the immoveable property, purportedly owned by Jitendra Nath Biswas. For enhancement of loan limit the Chartered Accountant prepared false and fabricated Balance Sheet for submitting before the Bank. Whereas the Balance Sheet for ROC showed sales turnover as only 35 lakhs, another Balance sheet of the accused company deposited with IDBI dishonestly showed inflated sales turnover of Rs. 335 lakhs. The petitioner as an advocate for the bank after considering the documents submitted a search report on 12.08.2008 on the basis of a report prepared by the Krishnendu Chakraborty, a junior advocate.
The sanctioned amount of loan was disbursed to the company between 25.8.2008 and 01.11.2008. Thereafter the cash credit limit was enhanced to Rs. 150.00 lakhs against personal guarantee of one Abdul Razzak Molla, who created equitable mortgage of immovable properties standing in his name and the enhanced limit of loan was disbursed to the company on 31.08.2009. Emotions Infomedia Private Limited through his directors again applied for enhancement of the cash credit limit to Rs. 200.00 lakhs which was disbursed in January, 2010. Title Deed no. 1164 for the year 1992 in the name of Abdul Razzak Molla and Title Deed no. 1887 for the year 1972 in the name of Abdul Wadud were used for creating equitable mortgage on 04.06.2009 and 31.12.2009 respectively. The loan account of the company was declared as Non Performing Asset (NPA) with an outstanding due of Rs. 2.57 crores. It was also revealed that Title Deed bearing no 3441 of 1961 and Title Deed 558 of 1964 which were deposited with the opposite party/bank for equitable mortgage were forged documents and the actual owner of the property was Yar Ali Mondal.
The General Manager of the opposite party/bank lodged a complaint against the Directors of the borrowing company alleging that they entered into criminal conspiracy with Jitendra Nath Biswas, Abdul Razzak Molla and Abdul Wadud Gazi the purported owners of the mortgage property and other unknown persons for availing the cash credit facility from IDBI bank, City SME Branch Kolkata and cheated the bank by syphoning the money on the basis of forged and fabricated Title Deeds and other false supporting papers like Record of right (porcha), Tax Receipt etc.
The case against the petitioner is that the bank asked him to conduct a search and verify the title in respect of the property covered by the Title Deeds, produced in the name of Jitendra Nath Biswas. The petitioner allegedly entered into a criminal conspiracy with Partha Das Chowdhury, one of the directors and others and submitted a Title Search Report on 12.08.2008 on the basis of a report of his junior, Krishnendu Chakraborty an advocate and certified that the property was free from all encumbrances and that Jitendra Nath Biswas had a clear and a marketable title over the property.
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