Delhi: CBI court sentences PNB officials in Rs 4 crore bank fraud case

New Delhi, Jan 12 A CBI court has convicted and sentenced two former Punjab National Bank (PNB) officials in connection with a Rs 4 crore bank fraud case involving the Jor Bagh branch in New Delhi, an official statement said on Monday.

The convicted public servants are Kulvinder Kaur Johar, then Chief Manager and Branch Head, and Ranjiv Suneja, then Senior Manager of PNB’s Jor Bagh branch. The court sentenced both to three years’ rigorous imprisonment and imposed a fine of Rs 75,000 each.

The bank’s panel advocate, Narendra Singh Parihar, was also convicted and sentenced to two-and-a-half years’ imprisonment with a fine of Rs 50,000.

The conviction and sentencing were pronounced on January 9.

The Central Bureau of Investigation (CBI) had registered the case on July 11, 2013, against Sanjeev Dixit, proprietor of M/s Shankar Metals; Sanjay Sharma, proprietor of M/s Super Machines; Indra Rani; and other unknown persons.

According to the prosecution, the accused entered into a criminal conspiracy to dishonestly and fraudulently obtain a cash credit facility of Rs 4 crore from PNB’s Jor Bagh branch by submitting bogus and forged property documents. The loan proceeds were subsequently diverted for purposes other than those for which the facility had been sanctioned.

The investigation revealed that Sanjeev Dixit, in connivance with PNB officials Kulvinder Kaur Johar and Ranjiv Suneja, along with panel advocate N.S. Parihar and others fraudulently secured the cash credit limit using forged property and KYC documents. The bank funds were then siphoned off through bogus bank accounts of fictitious firms and companies, the CBI said.

Following completion of the investigation, the CBI filed charge sheets against Sanjeev Dixit alias Sanjay Sharma, N.S. Parihar, Kulvinder Kaur Johar, Ranjiv Suneja, and private individuals Rahul Sharma and Rajeev Sharma.

After the trial, the court convicted and sentenced the accused accordingly.

The prime accused, Sanjeev Dixit, has been declared a proclaimed offender and is currently evading trial, while Rahul Sharma and Rajeev Sharma were acquitted, the statement added.

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