The Special Judge for CBI cases, Court No. 05 Ahmedabad has sentenced three accused including Shri K.R. Goyal @ Kulwant Rai and Shri Rakesh Behl, both then Managers and Shri Shiv Ram Meena, then Officer, all three of Punjab & Sind Bank, Surat Branch to three years’ Rigorous Imprisonment with total fine of Rs.15 Lakh (Rs. 5 lakh each) in a bank fraud case.

CBI had registered the instant case on 07.11.2002 against accused including the convicted accused and others. It was alleged that accused Shri K R Goyal, Shri Rakesh Behl and Shri Shiv Ram Meena, the officers of Surat Branch of Punjab & Sind Bank, in connivance with Proprietor of M/s Satyam Dalal & M/s Mercury Garments and another Prop. of M/s Moon Textiles & M/s Desai Dalal & Co. perpetrated a fraud on Surat Branch of Punjab & Sind Bank during the year 2000-2002 thereby causing a wrongful loss of Rs. 80,60,749/- to the bank following irregular and inappropriate transactions permitted through bank accounts operated by said Proprietors in the name of their firms in the aforesaid branch of the bank.

During investigation, it was revealed that the accused K. R. Goyal, Rakesh Behl and Shiv Ram Meena, all bank officers of Surat Branch of Punjab & Sind Bank in connivance with accused private persons perpetrated a fraud on Surat Branch of Punjab & Sind Bank during the years 2000-2002. This caused a wrongful loss of Rs. 74.16 lakh to the bank by unauthorisedly and dishonestly accommodating the parties in their bank accounts by way of purchase/discounting of accommodation cheques of heavy amounts drawn on accounts of sister concerns/firms of aforesaid accused private persons. The accused bank officials deliberately and intentionally effected payments of cheques of heavy amounts from the accounts of the private accused persons against uncleared instruments much beyond the delegated powers on regular basis. In order to suppress such transactions from their Controlling office, the accused bank officials did not even obtain post-facto approval from the competent authority of the bank.

After investigation, charge sheet was filed by CBI on 31.03.2004 against accused including those convicted and sentenced by the Court.

The Court, after trial, found accused guilty and sentenced them accordingly. During trial, 30 prosecution witnesses were examined and 281 documents/ exhibits were relied upon in support of the charges against the accused persons.

(Release ID: 2107139) Visitor Counter : 87