Bank Customer sentenced 7 years Jail for Fraud in Punjab National Bank in Delhi

The CBI Court, Rouse Avenue District Courts, New Delhi, has convicted and sentenced accused Sanjeev Dixit (Sanjay Sharma) to Seven Years’ Rigorous Imprisonment (RI) with a fine of Rs. 1,60,000, in a bank fraud case.

The fraud case was registered on 11.07.2013 against Sanjeev Dixit, Proprietor of M/s Shankar Metals; Sanjay Sharma, Proprietor of M/s Super Machines; Indra Rani; and other unknown persons.

It was alleged that the accused persons, in criminal conspiracy with each other, dishonestly and fraudulently obtained a cash credit facility of Rs. 4 Crore from Punjab National Bank, Jor Bagh Branch, New Delhi.

They submitted fake documents and also forged property documents and diverted the loan proceeds for purposes other than those for which the facility had been sanctioned.

In 2016, accused Sanjeev Dixit (Sanjay Sharma) escaped from judicial custody while being produced before a court in Sonipat in connection with another case. He subsequently evaded arrest and was declared a proclaimed offender by the Trial Court on 23.11.2017.

In January 2026, information was received that the proclaimed offender was residing in Vadodara under a false identity, namely Pankaj Bhardwaj, son of Brij Mohan Bhardwaj. Acting on this information, the CBI traced the accused to Mata Tripura Sundari Mandir, Umrai, Banswara, and arrested him on 30.01.2026.

During the trial, accused Sanjeev Dixit (Sanjay Sharma) pleaded guilty to the offences of criminal conspiracy, cheating by personation, cheating, forgery of valuable security, forgery for the purpose of cheating, and using forged documents as genuine. Accordingly, the Hon’ble Court convicted and sentenced him, on 24.10.2026, to Seven Years’ Rigorous Imprisonment, along with a fine of Rs. 1,60,000.