'The bills of exchange were drawn at four months sight and on maturity were dishonoured; con sequently' the firm of Watanmal Boolchand have had to reimburse the banks in Shanghai who had negotiated the drafts and credited Verma's account. The loss eustained in this connection amounted to some: Tis, 48,000, Having drawa these bills, it would be expected to find corresponding entries in the weekly and monthly reports but Verma's account was fakely credited and one or another of the banks was debited. Owing to the jog being made in this manner, neither the Hongkong nor Hyder bad offices knew what was going fon. The advances made to Verma were entered in the reports as being against goods purchased but as a matter of fact only a portion of that money had been used to purchase cargo. Although all these transactions were consummate ed between September, 1926, and January, 1927, not a word was said about the indebtedness of Verma and it was not until August, 1927, that the true circumstances were known and these came to light as A result of the clean bills-of exchange being dishonoured.
The Crown Advocate here called the first witness for the prosccution,
Text read from the printed page and cleaned; old type leaves the occasional error.