Delhi High Court
Sushil Verma vs Central Bureau Of Investigation on 25 November, 2014
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
Date of Decision: 25th November, 2014
+ Crl.M.B.10242/2014 & Crl. M.A. 17154/2014 in CRL.A. 916/2013
SUSHIL VERMA ..... Appellant
Through: Mr. Pavan Narang and Ms. Vasundhara,
Chauhan, Advocates
versus
CENTRAL BUREAU OF INVESTIGATION ..... Respondent
Through: Mr. A.S. Singh, Advocate for Mr. R.V.
Sinha, Standing Counsel for CBI
Mr. Rajeev Aggarwal, Mr. S. Sethi,
Advocate for SBBJ
CORAM:
HON'BLE MS. JUSTICE SUNITA GUPTA
JUDGMENT
: SUNITA GUPTA, J.
Crl. M.B. No.10242/2014
1. This is an application moved by the appellant u/s 389 r/w
Section 482 Cr.P.C. for suspension of sentence during the pendency
of the appeal in FIR No.RC-4(E)/2006/EOW-I/CBI/New Delhi u/s
120 B IPC and Section 13(2)/13(1)(d) of the PC Act, 1988 and
Section 420/471 IPC.
2. It is submitted that the appellant has been sentenced to undergo
(i) rigorous imprisonment for a period of two years and a fine of
Rs.5000/- in default one month simple imprisonment for offence
punishable u/s 120B IPC, (ii) rigorous imprisonment for four years
and a fine of Rs.6 crores in default of which two years simple
imprisonment for the offence under Section 420 IPC, (iii) rigorous
imprisonment for three years and a fine of Rs.10,000/- in default two
months simple imprisonment. It was also ordered that fine if realized,
a sum of Rs.5.5 crores be paid to the bank in question as
compensation.
3. Vide order dated 11th October, 2013, the applicant was enlarged
on interim bail for a period of six weeks to enable him to discuss the
terms of sale of the two properties and for payment of outstanding
amount to the State Bank of Bikaner and Jaipur. In compliance of this
order, the applicant had several meetings with the senior officials of
the bank. Now the parokar of the appellant has approached the bank
with another proposal dated 30th July, 2014 wherein the appellant has
offered an upfront payment of Rs.1 crore and balance sum of Rs.5.5
crores within 180 days of the acceptance of the proposal.
4. Another application bearing Crl. M.A. No.17154/2014 was also
moved subsequently for issuance of notice to State Bank of Bikaner
and Jaipur (SBBJ) for confirming One Time Settlement.
5. Notice was sent to SBBJ and respondent-CBI was also directed
to verify the settlement.
6. Suspension of sentence was opposed by CBI on the ground that
the appellant and his daughter Ms. Amrita Verma were directors of
M/s Standard Logistics Pvt. Ltd. and M/s. Standard Logistics Pvt. Ltd
(Mother Dairy Division). The appellant Sushil Verma has been
availing certain credit facilities from SBBJ, Nangal Raya Branch,
New Delhi since 20th December, 2004. On 19th February, 2005, the
appellant in collusion with co-accused S.K. Chawla, the then Chief
Manager and J.S. Chaney, a valuer, sought enhancement of credit
facilities to the extent of cash credit limit of Rs.75 lacs and bank
guarantee limit of Rs.40 lacs and presented Sh.Charan Das Chhabra as
guarantor. A property at Ghaziabad, UP was also offered as collateral
security. During investigation, it transpired that Sh.Charan Das
Chhabra who was purportedly presented as guarantor by the appellant
to secure the loan was not even alive and appellant Sushil Verma in
collusion with S.K. Chawla made someone else to appear as Charan
Das Chhabra and dishonestly and fraudulently obtained the credit
facilities from the State Bank of Binaker & Jaipur, Nangal Raya
Branch, New Delhi. The property offered as collateral security was
valued by Jagpal Singh Chaney and it was also found that no such
property was situated. As such, the allegations are very serious in
nature for which the appellant has been convicted.
7. However, as regards, one time settlement between the parties,
the same was verified from the bank according to which an OTS
between the bank and the borrower has been approved by the Bank's
competent authority on 16th October, 2014 for Rs.6 crores. Rs.1 crore
has been deposited. Rs.0.50 crores is to be deposited before 31st
December, 2014 and 15th January, 2015. Rs.4 crores is to be deposited
before 31st March, 2015.
8. An affidavit has been filed by Sh. Mukesh Gulati, Assistant
General Manager, State Bank of Bikaner and Jaipur, Asset Recovery
Branch confirming the acceptance of proposal made by the appellant
through his daughter Ms.Amrita Verma for a total sum of Rs.6 crores.
Initially the payment was to be made by 31st January, 2015 but it was
modified and time was extended up to 31st March, 2015. The bank
has accepted and approved the payment terms vide letter dated 13 th
November, 2014 which has been accepted by the appellant through
her daughter and one of the director of the borrower company Ms.
Amrita Verma according to which schedule of deposit will be as
under:-
Rs.1.00 Crore already deposited
Rs.0.50 Crore to be deposited upto 31.12.2014
Rs.0.50 Crore to be deposited up to 15.01.2015
Rs.4.00 Crores to be deposited by 31.03.2015
9. Needless to say, the allegations for which the appellant has
been convicted are very serious in nature, that being so, the appellant
is not entitled for suspension of sentence till the disposal of the
appeal. However, in order to make necessary arrangement for
payment to SBBJ where settlement has been arrived at for Rs.6
crores, the appellant is admitted to interim bail till 15th January, 2015
on his furnishing a personal bond in the sum of Rs.1 lac with one
surety in the like amount to the satisfaction of the learned Trial Court
and subject to further condition that:-
i) He shall not leave Union Territory of Delhi during this
period.
ii) He shall report to CBI at 11:00 AM on every Wednesday
during this period.
iii) He shall furnish his address as well as the mobile number to
the CBI.
iv) He shall surrender before the Superintendent Jail on 16th
January, 2015.
Applications stand disposed of.
Order dasti under the signature of the Court Master.
A copy of this order be sent to the Superintendent Jail for
necessary information.
(SUNITA GUPTA)
JUDGE
NOVEMBER 25, 2014
rs
