Private person jailed in Rs 1.17 crore Canara Bank loan fraud case

New Delhi, Nov 21 A special CBI court in Ghaziabad on Friday convicted and sentenced private person Kapil Kumar to three years, seven months, and ten days of rigorous imprisonment along with a fine of Rs. 50,000 in connection with a major bank loan fraud case involving the Canara Bank (erstwhile Syndicate Bank).

The judgment, passed by the Hon’ble Special Judge, CBI Anti-Corruption, Court No. 1, comes after Kumar applied to 'Plead Guilty' on November 12, 2025, formally accepting his criminal involvement before the court.

The Central Bureau of Investigation (CBI) registered the case on September 13, 2017, following a complaint of a criminal conspiracy to defraud the bank. The investigation revealed that Kapil Kumar, in connivance with his wife, co-accused Manisha Devi, and other public and private persons, illegally obtained a massive loan.

The accused had applied for a Rs 99 lakh loan for the purchase of a plot using forged documents and incomplete paperwork. After the loan was sanctioned, Kumar and his co-conspirators immediately withdrew and misused Rs 96 lakh, violating the terms of the loan agreement.

“Thereby, in connivance with other accused, the accused Kapil Kumar defrauded Canara Bank (erstwhile Syndicate Bank), Ghaziabad and caused wrongful loss to the tune of Rs 1,17,66,950 to the bank,” the CBI said in its press note.

The CBI filed its charge sheet in the case on December 23, 2021, against Kapil Kumar and the other accused. Charges were formally framed against Kumar by the court on July 18, 2025.

In a significant turn, the court accepted the accused's recent plea of guilt in its order and judgment dated November 21, 2025, paving the way for the conviction and subsequent sentencing.

The judgment underscores the judiciary’s firm stance against economic offences that damage the nation’s financial system.

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