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CBI court sentences Punjab based-businessman to 3 years RI (Img: Internet)
Mohali: A special Central Bureau of Investigation court in Mohali has sentenced a Punjab-based businessman to three years of rigorous imprisonment in a multi-crore bank fraud case linked to alleged cheating of Indian Overseas Bank.
According to an official CBI statement issued on June 5, the convicted accused has been identified as Samir Dua, a partner in M/s G.D. Ispat Udyog based in Mandi Gobindgarh, Punjab. The court also imposed a fine of Rs 15,000 on the accused.
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The CBI had registered the case against Samir Dua, co-accused Dalip Dua and others on allegations of criminal conspiracy and cheating.
Investigators alleged that the accused fraudulently secured a cash credit limit of nearly Rs 4 crore from Indian Overseas Bank’s Mandi Gobindgarh branch using false and fabricated documents and information. According to the agency, the fraudulent transactions caused wrongful financial loss to the bank.
Following the completion of investigation, the CBI filed a chargesheet against the accused persons before the competent court. The prosecution presented evidence related to the alleged manipulation of financial records and submission of misleading information to obtain banking facilities.
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After examining the evidence and hearing arguments during the trial, the Mohali court convicted Samir Dua and awarded the sentence accordingly.
The CBI stated that proceedings against co-accused Dalip Dua were abated following his death during the course of the case. Officials said the conviction reflects continued action against financial fraud and banking-related offences involving misuse of institutional credit facilities.
