The CBI Special Court of Dharwad convicted a bank manager, director of a trading company, chartered accountant, and two others in the case of defrauding Bank of India to the tune of ₹90 lakh.
Special Judge for CBI, Dharwad, N. Subramanya, on Friday issued the order convicting the five persons for the offence of cheating, forgery, criminal misconduct, and falsification of accounts and sentenced them to rigorous imprisonment for one year and a total fine of ₹1,60,000.
The case dates back to 2001. Then branch manager of Bank of India Shahapur branch D.V. Narvekar, director of Poonam Trading Company Anand Seshu, chartered accountant N. Adinarayana, and Devaraj and Hemalatha Devaraj were accused of cheating the bank. The accused have been facing trial for the last 22 years and now the judgment has been passed by the CBI court since the stay was vacated by the Supreme Court of India.
In 2002, the CBI, ACB, Bengaluru had filed charge sheet before CBI Special Court, Dharwad, based on a complaint of the Assistant General Manager of Bank of India alleging that Narvekar, abusing his official position, entered into criminal conspiracy with Bijoy Kethan and Poonal Kethan, proprietor of Tej exports and Poonam trading Co., Bengaluru, to avail cash credit limit of ₹54 lakh from Bank of India by submitting fake documents.
It was alleged that Anand Seshu also colluded with bank officials for availing credit facilities from the bank. Adinarayana was accused of submitting bogus balance sheet and financial statements in the name of different companies while the remaining two submitted forged copies of title deed to the bank to avail the credit facilities by Anand Seshu and Bijoy Kethan.
The main accused Bijoy Kethan and his wife was allegedly absconding when the case was registered and the CBI got red corner notice and look out circular against them. As per the CBI charge sheet, they caused the loss of ₹90 lakh to the bank.
The Special Judge convicted the accused under Sections 120-B, 420, 467, 468, and 471 of IPC and Sec. 13(1)(d) R/w.13(2) of PC Act. Senior Public Prosecutor Shivananda Perla argued on behalf of CBI.
