K.Srinivasan v. The Superintendent Of Police,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 25.09.2025
CORAM
THE HONOURABLE MR. JUSTICE M.NIRMAL KUMAR in Crl.A.No.1498 of 2025 K.Srinivasan ... Petitioner/A7 Vs.
The Superintendent of Police, CBI/B.S. & F.C./Bangalore.
Cr.No.RC.5(E)/96-CBI/BLR ... Respondent Prayer: Criminal Miscellaneous Petition filed under Section 430(1) of BNSS, 2023 to suspend the sentence imposed on the petitioner by a judgment dated 26.08.2025 in C.C.No.65 of 2000 on the file of the XI Additional Special Judge for the trial of CBI Cases at Chennai and to release the petitioner on bail pending disposal of the above Criminal Appeal. For petitioner :
Mr.J.Senguttuvan For Respondent : Mr.B.Mohan Special Public Prosecutor (CBI Cases) 1/8
ORDER
The petitioner/A7 in C.C.No.65 of 2000 was convicted by the trial Court by the judgment dated 26.08.2025 for the offences under Sections 120-B r/w 420, 468 and 471 of I.P.C. and Sections 13(2) r/w 13(1)(d) of Prevention of Corruption Act (hereinafter 'PC Act') and substantive offences under Sections 420 I.P.C. and sentenced to undergo three years rigorous imprisonment on each section (2 x 3 = 6 years) along with fine of Rs.10,000/- on each section (Total fine amount: 2 x 10,000 = 20,000), in default, to undergo six months simple imprisonment on each section (2 x 6 = 12 months). Aggrieved against the same, the petitioner preferred the above appeal along with the instant miscellaneous petition seeking suspension of sentence and bail.
2.The case against the petitioner is that the petitioner/A7 in conspiracy with the other accused, cheated the complainant bank, namely, Central Bank of India, Nungambakkam Branch in sanctioning and releasing 2/8
Over Draft facility and Term Loan facilities in the name of M/s.Sujatha Films Ltd. and M/s.G.V.Films Ltd. The petitioner in collusion with A1 submitted a false and fabricated books of accounts as securities. The Bank Manager and Accountant allowed them to avail credit facilities beyond their sanction limit and excess to the securities offered and thereby facilitated the borrowers to indulge the kite flying operations and divert the loan proceeds for unconnected purpose which ultimately led to the financial loss of Rs.1054.68 lakhs and Rs.339.30 lakhs in the accounts of M/s.G.V.Films and M/s.Sujatha Films. Based on which, a case registered, investigated, charge sheet filed for offences under Sections 120-B r/w 420, 468 and 471 of I.P.C. and Sections 13(2) r/w 13(1)(d) of PC Act. The petitioner/A7 is the Accountant in M/s.Sujatha Films Ltd.
3.The learned counsel for petitioner submitted that in this case the statement of books of accounts certified by LW114 and LW115 but both of them not examined. He further submitted that from the deposition of the 3/8
witnesses and from the documentary evidence, it is evident that the accounts of A8 and A9 companies were irregular. He further submitted that out of 122 listed witnesses, only 39 witnesses examined and the de-facto complainant/R.R.Sharma not examined in this case. He further submitted that the petitioner is aged about 75 years and having age related health ailments. He further submitted that the petitioner already paid the fine amount and the sentence imposed on the petitioner has been suspended by the trial Court till 05.10.2025. Hence, he prayed for granting suspension of sentence to the petitioner.
4.The learned Special Public Prosecutor (CBI cases) on the other hand submitted that during trial, on the side of the prosecution PW1 to PW39 examined, Exs.P1 to P238 marked. On the side of the defence, one T.R.Venkataraman (A2) examined as DW1 and marked Exs.D1 to D13. The trial Court on the evidence and materials produced, had rightly convicted the 4/8
petitioner. He further submitted that the trial Court suspended the sentence of the petitioner till 05.10.2025.
5.Considering the fact that there are substantial grounds raised in the above appeal, which requires consideration and the sentence imposed on the petitioner already suspended by the trial Court and the appeal is not likely to be taken up in the near future, this Court is inclined to grant the relief of suspension of sentence to the petitioner.
6.Accordingly, the substantive sentence of Imprisonment imposed on the petitioner is suspended till the disposal of the appeal and he is ordered to be enlarged on bail, on condition that he shall execute a bond for a sum of Rs.10,000/- (Rupees Ten thousand only) with two sureties, each for a like sum to the satisfaction of the trial Court.
5/8
7.Further, the petitioner shall appear before the Trial Court once in six months at 10.30 a.m. on the first working day of the month, until the disposal of the appeal and if he is not able to appear before the Trial Court on that day, he shall make arrangements to file an application under Section 317 Cr.P.C. and shall appear before the Trial Court on any other day in lieu of the date of his absence as directed by the Trial Court. 8.Accordingly, this Criminal Miscellaneous Petition is ordered. 25.09.2025 (2/2) rsi 6/8
To 1.The XI Additional Special Judge for CBI Cases relating to Bank and Financial Institutions, Chennai.
2.The Superintendent of Police, CBI/B.S. & F.C./Bangalore.
3.The Public Prosecutor, High Court, Madras.
7/8
M. NIRMAL KUMAR, J.
rsi in Crl.A.No.1498 of 2025 25.09.2025 (2/2) 8/8