Registration of crime and investigation have otherwise become imperative because of the reasons traceable to the preliminary report of the CBI which reveals that some known and unknown public servants have abused their official position by corrupt and illegal means, knowingly and intentionally thereby causing wrongful loss to the APIIC, a State owned Corporation, and wrongful gain to M/s. EMAAR MGF (respondent herein) and others, approximately to the tune of Rs.27.43 Crores. We are prima facie of the view that both the State and APIIC have failed to protect the public property and public exchequer from a huge loss, a duty the State discharges through its functionaries, who admittedly happen to be the public servants, and in that capacity custodians of the public property, obviously, for such failure and lapse they have to account for. Thus, in view of reasoning and the events reflected in the report by the CBI, unveiling a loss to the public property in furtherance of a criminal conspiracy, this Court cannot afford to be a spectator.The State as well as APIIC have apparently failed in protecting public interest and in discharge of public duty and obligations as is evident from the fact that except taking some cosmetic legal action no remedial action to retrieve the losses is taken by either of them. This would be evident from the fact that not a single FIR is registered against falsification and tampering of record, deception, misappropriation, tax evasions and flight of monies abroad resulting in money laundering and the State and its instrumentalities remaining mute spectators, leaves us with prima facie satisfaction and conclusion that in order to protect greater public interest and to safeguard valuable assets of the State, detailed investigation is necessary.
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