THREE TO FIVE YEARS IMPRISONMENT TO THREE BANK OFFICIALS AND TWO OTHERS IN SEPARATE CASES

Press Release
New Delhi, 01.12.2017

The Special Judge, CBI Cases, Ahmedabad (Gujarat) has sentenced Sh. Bhashkar V. Mehta, then Officer In-charge, Stock Invest Department, Central Bank of India, Ahmedabad; Sh. C.P. Gohil, then Officer, Punjab National Bank, Maskati Market Branch, Ahmedabad & two private persons Sh. Gaurag S. Shah & Manish J. Vaidya, all to undergo three years Rigorous Imprisonment with fine of Rs. 10,000 each U/s 120-B, 420, 467 and 511 of IPC.

CBI had registered a case against Shri Bhashkar V. Mehta, Officer In-charge, Stock Invest Department, Central Bank of India, Ahmedabad and others on a complaint from Central Bank of India.  It was alleged that accused Bhaskar V. Mehta, had altered amounts in the stock investment instruments and attempted to cheat Central Bank of India to the tune of Rs. 9.2 crore (approx.) in conspiracy with other accused persons. However this attempt was detected and a complaint was filed.

After investigation, a chargesheet was filed U/s 120-B, 420 r/w 511, 467 of IPC & Section 13(2) r/w 13(1) (d) of PC Act, 1988 against the accused persons in the Designated Court, Ahmedabad on 27.02.1998. The Trial Court found the accused persons guilty and convicted them.

In another case, the Special Judge, CBI Cases, Ahmedabad (Gujarat) had sentenced Sh. Vasudev Rao, then Deputy Manager (Advances), State Bank of Hyderabad to undergo five years Simple Imprisonment with fine of Rs. 5,000/-.

CBI had registered a case against Shri Vasudev Rao, the then Dy. Manager (Advances), State Bank of Hyderabad and others. Shri Vasudeva Rao during the period 1998-99 entered into criminal conspiracy and sanctioned various credit facilities to the private persons on the basis of bogus bills beyond his discretionary powers and manipulated and falsified bank accounts. A loss of Rs. 2,76,177/- was caused to the State Bank of Hyderabad.

A chargesheet was filed against the accused in the Designated Court, Ahmedabad on 30.06.2003. The Trial Court found the accused guilty and convicted him.






********