CBI court sentences man to 3-year jail for Rs 27 crore fraud with Dena Bank

Ahmedabad, July 1 A CBI court in Ahmedabad has sentenced a man to three years’ rigorous imprisonment and slapped a penalty on a food and oil company for defrauding Dena Bank of Rs 27.19 crore through forgery.

The CBI court, Navrangpura, convicted and sentenced accused Mahadev D Patel to 3 years Rigorous Imprisonment (RI) with a fine of Rs 30,000 on Monday.

Apart from sentencing two other private persons, the court also imposed a fine of Rs 30,000 on the accused’s company, Hynoup Food and Oil Industries Ltd.

The CBI had registered the case on the basis of a written complaint filed by the Dena Bank, Mumbai, against Patel, Hynoup Food and Oil Industries Ltd and the other two accused.

The complaint said the company was enjoying various credit facilities with Dena Bank, Ellis Bridge branch, Ahmadabad, since January 1983. The company and its directors cheated Dena Bank to the tune of Rs 27.19 crore by indulging in forgery and misusing the Letter of Credit facility.

After investigation, the chargesheet was filed on October 22, 2001, against four accused, including the two convicted accused.

After the trial, the Court found the accused Patel and the private company guilty and sentenced them accordingly.

In a separate case, a Special CBI court in Delhi sentenced two accused, Rajender Sharma and Satyapal Singh, in a case of fraudulent duty drawback claims and directed them to pay a compensation of Rs 9 lakh to the complainant, Apparel Export Promotion Council.

The CBI had registered the case on December 30, 2003 against Rajender Sharma, proprietor of M/s Siddharthi, and unknown officials of AEPC, Ministry of Textile, New Delhi and others on allegation of manipulating the documents for false export of garments and obtaining illegal duty drawback of Rs 14.01 lakh with the help of Satyapal Singh, another accused.

The CBI filed a chargesheet against the two accused on June 29, 2005. During the trial, both the accused pleaded guilty.

The Court, under plea bargaining, convicted the accused Rajender Sharma and sentenced him to imprisonment for a period of 75 days, which he had already undergone. In addition, the convict was ordered to pay a fine of Rs 6,000.

The Court also convicted Satyapal Singh and sentenced him to imprisonment till the rising of the court and imposed a fine of Rs 6,000.

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