Over Rs 3 crore Loan Fraud in Punjab & Sind Bank, One More Offender arrested after 16 years
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The Central Bureau of Investigation (CBI) has arrested Proclaimed Offender Ms. Kavita from Haridwar, Uttarakhand, in a bank fraud case.
The case was registered on 30 March 2012. It was alleged that between 10 August 2010 and 24 May 2011, the then Branch Manager of Punjab & Sindh Bank at Diwan Public School, Meerut, colluded with 46 other people named in the FIR. Together, they allegedly approved and disbursed 24 housing loans and 2 overdrafts against property loans worth approximately Rs. 3.63 crore using fake identity and income documents of borrowers and guarantors.
The branch manager involved in this scam was Devendra Pal Singh (D.P. Singh). When the Central Bureau of Investigation (CBI) uncovered the ₹3.63 crore scam, D.P. Singh was named as the prime accused in the First Information Report (FIR) registered on March 30, 2012. He was charged with entering into a criminal conspiracy, abusing his official position as a public servant, and brazenly violating established banking rules and guidelines to intentionally sanction fraudulent loans using fake identities.
While D.P. Singh was booked and subjected to the criminal trial, several private individuals who colluded with him (such as Renu Saxena and Ms. Kavita) absconded, prompting the court to declare them Proclaimed Offenders to prevent them from entirely evading the ongoing legal proceedings.
After completion of investigation, the CBI filed chargesheet on 26.11.2014 against 59 accused persons. Ms. Kavita was also one of the chargesheeted accused but she did not appear before the Court since beginning.
After the court took up the case, summons were repeatedly issued to Ms. Kavita, but she did not appear despite several attempts to contact her. The court then issued bailable and non-bailable warrants against her. On 14 April 2017, the court declared her a proclaimed offender. Her case was separated from that of the other accused who were facing trial. Later, on 11 May 2017, a non-bailable warrant was issued against her. Earlier, CBI had declared Ms.Renu Saxena as proclaimed offender in this case.
Through technical leads and sustained efforts, the accused Ms. Kavita was finally traced in Haridwar and was arrested on 09.10.2026. The accused was produced before the Competent Court, Ghaziabad which remanded her to Judicial Custody till 21.10.2026.
