New Delhi/Mumbai, 26 February 2024

 

The Special Judge for CBI cases, Mumbai has sentenced Shri Ramchandra Shridhar Joshi, then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai, in two separate cases, to Rigorous Imprisonment (RI) of two years and one year respectively along with a combined fine of Rs. 4,37,500/-  for causing  wrongful loss to the Bank.   

In the first case, the Special Judge for CBI cases, Mumbai, sentenced Shri Ramchandra Shridhar Joshi, the then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai to RI of two years  with  fine of  Rs 3,00,000/-. The Central Bureau of Investigation (CBI) had registered the instant case against Shri Ramchandra Shridhar Joshi, then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai and others on 12.05.1994. It was alleged that the accused entered into a criminal conspiracy with private person to cheat Bank of Baroda by misappropriating various amounts totaling Rs.10.50 crore (approx) and diverted the said amounts to the accounts of accused private person by fraudulent means. Thus, a wrongful loss was caused to the Bank.

After investigation, chargesheet was filed on 27.12.1996 against two accused, including the said then Chief Manager and a private person. The Court found the said accused guilty and accordingly sentenced him after trial.  The case against another chargesheeted accused (private person) was abated due to his death during trial. 

In the second case, the Special Judge for CBI cases, Mumbai, sentenced Shri Ramchandra Shridhar Joshi, the then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai to undergo  Rigorous Imprisonment (RI) of one year with fine of Rs.1,37,500/-. CBI had registered the case against Shri Ramchandra Shridhar Joshi, then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai and others. It was alleged that the accused entered into a conspiracy with other private persons to cheat Bank of Baroda, Walkeshwar Road Branch, Mumbai and misappropriated an amount of Rs. 5 crore (approx) by diverting the said amount to the account of a private person through fraudulent means causing a wrongful loss to the Bank.

After investigation, chargesheets was filed on 24.12.1996 against four accused including Ramchandra Shridhar Joshi. The Court found the said accused guilty and accordingly sentenced him, after the trail. The case against two chargesheeted accused was abated due to their death during trial while another accused was discharged.

 

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(Source: CBI) | PIB Mumbai | SC/ D.Rane

 

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