LIFE IMPRISONMENT WITH FINE OF Rs. 3.13 CRORE TO A PRIVATE PERSON AND 03 TO 10 YEARS RIGOROUS IMPRISONMENT TO THREE OTHERS IN A BANK FRAUD CASE


Press Release
New Delhi, 03.05.2019

The Special Judge for CBI Cases, Mumbai has sentenced Sh. Rajendra Marutrao Patil (private person) to undergo life imprisonment with fine of Rs. 3.13 crore; Sh. Bandalmudi Mahipal, then Branch Manager, Andhra Bank, Ghodbundar Road Branch, Thane to undergo 10 years Rigorous Imprisonment with fine of Rs. 3.40 lakh; Sh. Nizamuddin Ismail Surve @ Majeed Naik (private person) to undergo 03 years Rigorous Imprisonment with fine of Rs. 18,000/-; Smt. Reshma Kunte @ Smt. Reshma Rajendra Patil (private person) to undergo 03 years Rigorous Imprisonment with fine of Rs. 12,000/- and Sh. Premnath Atmaram Nikumbhe (private person) to undergo 03 years Rigorous Imprisonment with fine of Rs. 12,000/- for causing huge loss to Andhra Bank.

CBI had registered a case on 30.01.2010 on a complaint from General Manager, Andhra Bank, Andheri, Mumbai against Sh. Rajendra Marutrao Patil (private person), Sh. Bandalmudi Mahipal, then Branch Manager, Andhra Bank, Ghodbundar Road Branch, Thane (Maharashtra) and others. It was alleged that the accused persons availed a term loan of Rs. 203.35 lakh for purchase of 15 Skoda Laura Cars. However, only one car was purchased and rest of the money was siphoned off for other purposes by the borrower. Another facility of Secured Overdraft of Rs.139.95 lakh against term deposit worth Rs.155.50 lakh was also availed by the applicant which was also not cleared and thereby Andhra Bank was put to a total loss to the tune of approximately Rs. 2.30 crore.

After completion of investigation, a charge sheet was filed in the Court of Special Judge, Mumbai against the the accused u/section 120-B of IPC r/w Sec.420, 465, 467, 468, 471 & 511 of IPC and Section 13(2) r/w 13(1) (d) of PC Act, 1988 and substantive offences thereof.

The Trial Court found the accused guilty and convicted them.

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