The Bombay High Court has discharged Krishna Bhagwan Kotak and his firm, J.M. Baxi & Co., from criminal charges in a case involving alleged financial misconduct with the Shipping Corporation of India (SCI). The Central Bureau of Investigation (CBI) accused Kotak and the firm of submitting fraudulent invoices and conspiring with SCI officials. However, the court found that no payments were made on the disputed invoices, and all SCI officials involved were either discharged or not prosecuted. The court ruled that continuing the case would be an abuse of legal process.

Background of the Case:

Krishna Bhagwan Kotak, a partner in J.M. Baxi & Co., and his firm were accused by the CBI of conspiring with SCI officials to submit false invoices for port-related activities. The allegations included claims of unpaid invoices and unsupported vouchers.

Arguments by the Petitioners:

The petitioners argued that all SCI officials involved were discharged by the court, and no wrongful gain or loss was established. They contended that the charges were based on incorrect assumptions, as none of the disputed invoices were cleared or paid by SCI.

Prosecution's Stand:

The CBI maintained that the petitioners intended to defraud SCI by submitting fictitious bills. Despite the discharge of SCI officials, the CBI argued that the petitioners' role in the alleged conspiracy warranted prosecution.

Court's Findings:

The court examined the evidence, including the refusal of SCI's Chairman and Managing Director to sanction prosecution. The court noted that no financial loss occurred as the disputed invoices were neither settled nor paid. The court found no basis for grave suspicion against the petitioners and questioned the continuation of prosecution in the absence of charges against public servants.

Conclusion:

The court discharged Krishna Bhagwan Kotak and J.M. Baxi & Co. from the case, stating that further proceedings would be an abuse of legal process with no prospect of conviction. The court's decision effectively ends the long-standing legal battle against the petitioners.