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A CBI court in Lucknow has sentenced four individuals to eight years of rigorous imprisonment in a ₹6.75 crore bank fraud case involving forged shipping documents. Two firms were also fined ₹2 crore for their role in the fraud.
Two firms linked to the case were also penalised.
Lucknow: A special court of the Central Bureau of Investigation (CBI) in Lucknow has convicted four individuals in a bank fraud case involving losses of about ₹6.75 crore to the Central Bank of India.
The court sentenced Ramji Mishra, Shyamji Mishra, Akhilesh Kumar Mishra and Manishi Pandey to eight years of rigorous imprisonment and imposed a fine of ₹70 lakh each. Two firms linked to the case were also penalised.
According to the CBI, the case was registered on March 13, 2001, against several individuals including the then branch manager of the Central Bank of India’s Mirzapur branch.
Investigators alleged that M/s Mirzapur Carpets Co. Ltd., with Ramji Mishra as its managing director and Shyamji Mishra and Akhilesh Kumar Mishra as directors, had obtained credit facilities from the bank in 1996.
The accused allegedly used forged bills of lading and other fabricated documents to secure loans, causing financial losses estimated at ₹6.75 crore to the bank.
After completing the probe, the CBI filed a combined chargesheet on March 17, 2004, against seven individuals and two firms. Apart from the convicted persons, those named in the chargesheet included S.N. Verma, the then branch manager of the bank, Yadunath Dubey, and Pankaj Kumar Tiwari.
The charges were related to criminal conspiracy and fraud in obtaining bank credit using forged documents.
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The court also imposed a joint fine of ₹2 crore on two companies involved in the case- Manishi Enterprises, Varanasi and Mirzapur Carpets Co. Ltd.
However, the court acquitted S.N. Verma and Yadunath Dubey, stating that evidence of criminal conspiracy against them was not established during the trial. Proceedings against Pankaj Kumar Tiwari were separated by the court due to medical reasons.
The judgment brings closure to a long-running investigation and trial that began more than two decades ago, holding the convicted individuals responsible for defrauding the bank through forged documentation.
