In a long-awaited verdict, the CBI Special Court of Dharwad convicted five individuals for defrauding Bank of India of ₹90 lakh in a case dating back to 2001. After facing trial for 22 years, the accused – a bank manager, a trading company director, a chartered accountant, and two others – were finally sentenced to one year of rigorous imprisonment each and a collective fine of ₹1,60,000.
The scheme involved a complex web of forged documents and criminal conspiracy. Former Bank of India Shahapur branch manager D.V. Narvekar allegedly abused his position to collaborate with Anand Seshu (director of Poonam Trading Company) and chartered accountant N. Adinarayana. Together, they fabricated financial statements and title deeds to secure fraudulent credit facilities for Seshu and Bijoy Kethan (the main accused, currently absconding).
Despite the lengthy delay, the Special Judge delivered a decisive verdict, convicting the individuals under relevant sections of the Indian Penal Code (IPC) and Prevention of Corruption Act (PC Act). Senior Public Prosecutor Shivananda Perla represented the CBI throughout the trial, ensuring justice was served after two decades.
This case highlights the importance of perseverance in the face of financial crime and the crucial role of dedicated legal representation in upholding accountability. With the verdict finally reaching closure, it sets a precedent for combating fraud and safeguarding public funds.
