A former Bank of India branch manager and a private individual have been sentenced to seven years of rigorous imprisonment by a special CBI court in Bhopal. The case involves the fraudulent sanction of a Rs 30 lakh loan. The court also imposed a total fine of Rs 60,000 on the two convicts, as per the Central Bureau of Investigation (CBI).
The convicts, identified as Piyush Chaturvedi, the then Senior Branch Manager of Bank of India, Misrod branch in Bhopal, and Mohan Singh Solanki, were involved in the case. The CBI initiated the case in January 2016 following a complaint by the then Deputy Zonal Manager of the Bank of India in Bhopal.
According to the CBI, Chaturvedi had sanctioned a term loan and cash credit limit of Rs 30 lakh in the name of M/s Sunny Enterprises in November 2013. On the same day, Rs 22 lakh was transferred through an RTGS transaction from the firm’s account based on forged and fabricated RTGS forms and vouchers to the account of M/s Gold Fly Aish of accused Mohan Singh Solanki, the CBI stated.
The investigation revealed that the amount was allegedly misappropriated by the two accused as part of a criminal conspiracy, leading to a financial loss to the bank. After completing the investigation, the CBI filed a chargesheet against both accused before the special court.
The case pertains to the fraudulent sanction of a bank loan and diversion of funds using forged banking documents. The judgment marks the conclusion of the decade-old case registered on the complaint of the bank.
