FIVE YEARS RIGOROUS IMPRISONMENT TO THEN MANAGER OF PUNJAB NATIONAL BANK AND THREE PRIVATE PERSONS FOR CAUSING LOSS TO GOVERNMENT EXCHEQUER

Press Release
New Delhi, 27.03.2018

The Special Judge, CBI Cases, Tis Hazari Courts, Delhi has sentenced Shri Charanjeet Arora, then Manager, Punjab National Bank and three private persons i.e Sushil Kumar Gupta; Narendra Kumar Gupta & Manoj Kumar Gupta, all to undergo five years Rigorous Imprisonment with fine ranging from Rs.One Lakh to Five Lakh.

CBI had registered the case on the allegations that Shri Sushil Kumar Gupta, then Director of M/s Pankaj Finance & Leasing Limited (PFLL); Shri Charan Jeet Arora, then Manager of Punjab National Bank and other accused entered into a criminal conspiracy with each other and enjoyed a credit of Rs. 200 Lakh from New Bank of India, Connaught Place, New Delhi and Rs.25 Lakh from Corporation Bank, Karol Bagh, New Delhi. The firm allegedly got a loan of Rs. 23,94,958/- on forged/bogus documents. It was also alleged that a part of loan was credited in advance against seven vehicles which were already financed by Corporation Bank, Karol Bagh, New Delhi and the other part was credited on the security of two vehicles without mortgaging the bills & other relevant documents. An advance of around Rs.8 Lakh was also credited to the firm M/s PFLL for financing the four vehicles which were also already financed by the same branch of the bank.

After investigation, CBI filed charge sheet against the accused.The Trial Court found the accused guilty and convicted them. Two then bank officials were acquitted by the Court and one private person died.

 

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