Press Release
New Delhi , 15.05.2012

            The Special Judge for CBI cases, Tis Hazari Courts, Delhi has sentenced accused K.G. Sharma proprietor of M/s R.K. Udyog, Nangloi, New Delhi to undergo three years Rigorous Imprisonment with total fine of Rs.1.75 lakh in a corruption case.


            A case was registered by CBI U/s 120-B r/w 420, 468, 471 IPC and substantive offences thereof on 20.08.1993 against M/s RK Udhyog and others. It was alleged in the FIR that Sh. K.G. Sharma floated a firm M/s R.K. Udhyog at Friends Enclave, Nangloi, Delhi. He in connivance with other persons had submitted an application to New Bank of India, Rani Bagh Branch, Delhi for obtaining credit facilities viz. cash credit, term loan and bill discounted etc with a proposal for manufacturing Super Enameled Copper Wires without having any shed or premises. In pursuance of the conspiracy, the then Manager & the then Accountant of the bank, after conniving with Sh. K.G. Sharma, prepared a false scrutiny report and forwarded the proposal to regional office. Shri K.G. Sharma presented 9 forged bills amounting to Rs. 4.13 lakh(approx) and the same were discounted by the then Bank Manager. These bills were dishonored and not paid by the parties.


            CBI filed a chargesheet on 17.11.94 against M/s R.K.Udyog, Sh. K.G. Sharma; Bank Manager & a private person U/s 120 B r/w 420, 467, 468 & 471 IPC and U/s 5(2) r/w 5(1)(d) of PC Act 1947.


            The then Manager of Bank expired before framing of charges and the case against him was abated. The trial court had framed charges on 15.09.2007 against Sh. K.G. Sharma, Proprietor of M/s R.K. Udhyog and another private person.


            The Trial Court found the accused K.G.Sharma guilty for the offence and convicted him. The another private person was acquitted by the Trial Court.