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2009 (8) TMI 695 - SUPREME COURTWhether the ‘transfer’ was illegal within the meaning of section 43 of the Indian Penal Code in the light of the provisions of section 14 of the NHB Act? Held that:- As per the law laid down it is therefore to hold that the accused Nos. A1 to A3 [officials of UCO Bank] & A6 [officials of NHB] are guilty of criminal misconduct under the Prevention of Corruption Act. For the reasons already mentioned no sufficient evidence find to bring in the involvement of A7, Suresh Babu within the fold of the said transaction. All the accused were at the relevant time public servants. Each one of them played a specific role in diversion of funds from NHB to the account of Harshad Mehta, all ostensibly under a call money transaction. They thereby in our opinion facilitated Harshad Mehta to obtain pecuniary advantage within the meaning of the section. The acts were anything but intended to be in public interest. On the contrary the public loss and suffering occasioned thereby was immeasurable. Thus to hold accused Nos. A1 to A3 and A6 guilty of criminal misconduct under section 13(1)(d)( iii) of the Prevention of Corruption Act.
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