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TMI Blog2017 (11) TMI 1751X X X X Extracts X X X X X X X X Extracts X X X X ..... hearing Sri Gopal S. Chaturvedi, learned Senior Advocate appearing on behalf of the applicant has already been incorporated in the order dated 10.11.2017 passed by this Court in the present case, hence for the sake of brevity, the same is not being repeated in the present order. 3. The brief facts of the case are that an F.I.R. was registered against one Yadav Singh and others vide case crime no. 371 of 2012 under sections 409, 420, 466, 467, 469, 471 and 120-B I.P.C. and 13 (1) (d) read with 13 (2) of the P.C. Act on 13.1.2012 at police station Sector 39 Noida, Gautam Budh Nagar U.P. for the alleged corrupt practices while executing engineering work between 14.12.2011 and 23.12.2011 in which agreement bonds of ₹ 954.38 crores were executed by Engineering Department of Noida. The investigation of the case was initially carried out by the local police but thereafter the same was entrusted on 3.11.2012 to C.B.C.I.D. which submitted final report on 13.1.2014 and on 27.11.2014, the final report was accepted by the Special Judge S.C./S.T. Act, Gautam Budh Nagar. On 16.7.2015, the Lucknow Bench of this Court has passed an order in Misc. Bench No. 12396 of 2014 (Dr. Nutan Thakur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s during the period 8.3.2011 to 25.6.2011 and Ms. Steel Pipes during the period 27.4.2011 to 4.11.2011 from the Company known as N. Chemco. Futhermore, the third party consultant namely, M/s RITES had allegedly started supervising the works of Noida for quality control from September, 2011. (iii) Allegedly the quotes of the bidders were altered to cause undue gain to the pre decided contractors. (iv) The applicant transferred a sum of ₹ 50 lacs to Smt. Kusumlata to her firm M/s Kusum Garments through M/s Country Wide Electronics Pvt. Ltd. from a subsidiary Company of the applicant, namely, Gannayak Finnace and Leasing Pvt. Ltd. and the said amount was withdrawn by Smt. Kusumlata on different occasions. (v) The loss of ₹ 4,52,44,095/- was alleged to the government exchequer in lieu of payment made to M/s NKG Infrastructure Ltd. 5. Heard Sri Gopal S. Chaturvedi, learned Senior Advocate assisted by Sri Anoop Trivedi, learned counsel for the applicant, Sri Amit Misra, learned counsel for the C.B.I. and perused the record. 6. It has been contended by the learned counsel for the applicant that there was no fault or irregularity in the tender process which was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ain to the work carried out by the applicant's Company and as such does not proved that the applicant's Company began work earlier than the execution of the contact bond. Till December, 2011, the applicant possessed membership of National Stock Exchange (NSE) which he surrendered only on 13.12.2011. As the applicant wanted to continue investing in shares, he appointed Sh. Mohan Rathi as his portfolio manager. The applicant in pursuant to the said decision to invest in quoted shares through Mohan Rathi that a sum of Rs. one crore was transferred through Cheque No. 572604 dated 21.3.2012 by M/s Gannayak Finance and Leasing Pvt. Ltd. (a group concern of the applicant's Company) to the account of Country Wide Holding Pvt. Ltd. a Company controlled by Mohan Rathi. The fact that the amount of Rs. one crore was transferred only for investment in quoted shares is evident from a letter dated 18.3.2012 of Mohan Rahi. The amount of Rs. one crore was invested in shares by Mohan Rathi is clear upon perusal of balance sheet of the Country Wide Pvt. Ltd as on 31.3.2012. It appears that the Countrywide Holdings Pvt. Ltd. transferred a sum of ₹ 50 lakhs to M/s Kusum Garments Pvt. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany M/s. NKG Infrastructure Pvt. Ltd. and perform electrical work for Noida Authority. The applicant entered into a criminal conspiracy with the then Project Engineer, Noida Authority and other accused persons including Yadav Singh, the then Chief Engineer of the CME (Jal) and in pursuance of the said criminal conspiracy received undue favour from the accused public servants of NOIDA Authority and his Company was awarded tender related to conversion of 11KV and 33 KV overhead cables into underground, prior to the award of contract. The investigation has further established that the tender of the said work was called in the month of March, 2011 and opened in the month of November, 2011 but the work had already been started from the month of April, 2011 onward which clearly established pre-decided selection of the accused contractor and thus wrongful loss to the government exchequer to the amount of ₹ 4.52 crores (approx.) has been caused by the applicant in this way. Moreover it is established during the investigation that applicant was the ultimate beneficiary of M/s NKG and he transferred bribe amount of ₹ 50 lacs in the bank account of Smt. Kusum Lata wife of Yadav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces has revealed that a loss of ₹ 4,52,44,095/- against actual payment of ₹ 8,15,73,158/- to M/s NKG Infrastructure Pvt. Ltd., i.e., applicant's Company. These losses are in addition to the payment of ₹ 1.05 Crores made to three different contractors for doing the potholes at Udyog Marg. He vehemently argued that the applicant has wrongly stated that Noida Authority has withheld the security of 16.01 crores of the applicant as the said amount was the amount necessarily to be deposited by any of the executant Company as security for the defect liability period as mentioned in the relevant Clauses of the respective Contract Bonds and not withheld by the Noida Authority against the alleged loss amount. He has drawn the attention of the Court towards the relevant Clause of Control Bonds in this regard. He submitted that the said amount of ₹ 16.01 Crores was deposited by the applicant's firm in 12 different contracts of various divisions of Noida Authority out of which 3 contracts are subject matter of investigation and out of the said three contracts, charge-sheet has been filed in one instant case and remaining two contracts are still under investigatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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