TWO YEARS RIGOROUS IMPRISONMENT TO THEN ASSISTANT GENERAL MANAGER OF CENTRAL BANK OF INDIA AND TWO DIRECTORS OF PRIVATE FIRMS FOR CAUSING LOSS TO BANK

Press Release
New Delhi, 08.06.2018

The Special Judge, CBI Cases, Patiala House Courts, New Delhi has sentenced Sh. D. N. Upadhayay, then AGM, Central Bank of India New Delhi to undergo two years Rigorous Imprisonment with fine of Rs. 50,000/- and two private persons namely Vijay Kumar Manchanda & his wife Mrs. Shashi Manchanda, both to undergo two years Rigorous Imprisonment with fine of Rs.1.25 Lakh each.

CBI, had registered the case on 10.09.2003 on a complaint received from Central Bank of India alleging therein that Sh. D. N. Upadhayay, AGM, Central Bank of India New Delhi had entered into a conspiracy with Vijay Manchanda & his wife Shashi Manchanda, both Directors of M/s. Raj Raxine Pvt. Ltd. Delhi & M/s. Raj PU Foam Industries Delhi and cheated the bank to the tune of Rs.Two crore (approx) on the basis of forged documents of property, fake valuation, search reports & false projections of sale etc.

After investigation, a charge sheet was filed in the Designated Court, Delhi. The Trial Court found the accused guilty and convicted them.



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