CBI Court sentences 05 accused including then Branch Manager, State Bank of Saurashtra, Naroda Road Branch, Ahmedabad to five years’ Rigorous Imprisonment (RI) with total fine of Rs 7 lakh in a Bank Fraud Case

The Special Judge for CBI cases, Court No. 01, Ahmedabad has sentenced 05 accused including Becharbhai Ganeshbhai Zala, then Branch Manager, State Bank of Saurashtra, Naroda Road Branch, Ahmedabad and other private persons namely Ramesh L. Shah; Praful L. Shah; Hemendra L. Shah and Manoj C. Brahmbhatt to five years’ Rigorous Imprisonment (RI) with total fine of Rs 7 lakh in a Bank Fraud Case.

CBI had registered the instant case on 11.09.2001 against accused on allegations that accused B.G. Zala, then Branch Manager entered criminal conspiracy at Ahmedabad with accused private persons and others with the object to cheat the State Bank of Saurashtra, Naroda Road Branch by abusing his official position as public servant in the matter of public housing finance. It was also alleged that housing finance was sanctioned to the tune of Rs. Rs.3.93 Crore on the basis of forged and false documents submitted by borrowers. The said accused did not verify the loan eligibility of the said borrowers.

After completion of investigation, CBI filed 9 separate chargesheets on various dates against accused including those convicted. Out of the nine chargesheets, judgment in five chargesheets was pronounced on 20.12.2024 sentencing 15 accused to RI of 3-5 years with fine of Rs. 15.35 lakh.

The judgement in respect of remaining four chargesheets was pronounced on 09.01.2025. With this, 20 accused have been sentenced to RI with total fine of Rs.22.35 lakh in all nine chargesheets filed in the case.

AP/IJ/GP/JD

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