F.I.R. that on 20th November 1998, a loan application was submitted on behalf of Clarion Travels for the purpose of securing funds to purchase new cars. The loan application was signed by the present appellants on behalf of Clarion Travels. Against the said 3loan application, on 17th December 1998, Ajay Kumar Behera sanctioned a loan of Rs. 8,40,000/- without keeping any security or post-dated cheques. No repayment was ever made, and Ajay Kumar Behera did not pursue the same. 3.4 It was also alleged in the F.I.R. that earlier in time, on 22nd August 1998, a similar loan application was submitted on behalf of IGPL for the same purpose of securing funds to purchase new cars at a cost of Rs. 11,84,600/-. Against the said loan application, on 24th August 1998, Ajay Kumar Behera sanctioned the loan for the said amount. The money was received by Accused No. 3 and 4, who were Directors of IGPL. In furtherance of the loan application, the Accused No. 3 and 4 had also deposited 36 post-dated