Want to be a
Soolegal Member
Team  SoOLEGAL
Resource Centre / Categories :- Miscellaneous  » Miscellaneous
VINAYAK NARAYAN DEOSTHALI Vs. C.B.I.
Team SoOLEGAL | 01/01/1970

This case is registered against the appellant. The appellant while he was working as Assistant Manager in the Securities Department of UCO Bank, Hamam Street Branch, Mumbai in connivance with a colleague of the Bank hatched a criminal conspiracy with the infamous share & stock broker of Bombay of those times, Harshad S. Mehta Mehta with the object of cheating the UCO Bank by causing wrongful loss to the Bank and effecting illegal gain to the Harshad Mehta. It is alleged that for achieving the object of conspiracy, the appellant despite being a public servant,committed criminal breach of trust and misappropriated the funds of Bank by manipulating the accounts to facilitate unlawful gains to Harshad S. Mehta. It was claimed by the accused that he has transferred an amount of Rs.2.00 crores from account No.065 to account No.032, without there being any transaction which clearly shows that to get away with enquiries of the Head Office, the accused has chosen to transfer the money without there being any transaction and exhibits the conduct of the accused. All the documents relating to switch transaction between the UCO Bank and Indian Bank were signed by the accused, being the responsible officer knowing pretty well that these securities are purchased by the Head Office of UCO Bank, these securities are purchased by the Head Office of UCO Bank, oversight, and above all, the debit and credit vouchers for transaction. The material on record unequivocally establishes that the wrong entry in the account of UCO Bank SGL Account No. 065 effected to the advantage of Harshad Mehta (Accused No. 3) was not occurred as a result of an inadvertent error, but a planned misdeed done with mala fide intention. Considering the whole scenario, the accused, who is well acquainted with the banking activities and SGL transactions, created false documents and acted contrary to the provisions and committed illegal acts which are writ large on the face of record.  As a result, appeal gets dismissed and appellant found guilty.

View (0) Share (0) Download (0)

More Documents By Team SoOLEGAL

Author Image
Resource Centre / Categories :- Legal Formats
Lease/Rent Agreement for a Residential Property
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
Legal Format of Certificate under Section-65B
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
CRIMINAL APPEAL NO.340 OF 2022
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
Dev Kishan And Ors. Lrs. Of Kishan ... vs Ram Kishan AndOrs.
Unknown Author | N/A

No description available.

Read more ..
Download

Related Documents