A 78-year-old man, SK Tyagi, has been convicted in a decades-old bank fraud case, marking the conclusion of one of the longest-running criminal trials in Delhi’s district courts. Tyagi, accused of forgery and financial fraud, pleaded guilty in January 2025, bringing an end to a legal battle that had stretched for nearly 37 years.
The Rouse Avenue Court in Delhi found him guilty but, considering his advanced age, did not impose the maximum sentence. Instead, the court sentenced him to ’till rising of the court,’ meaning he would remain in custody only for the duration of the court session before being released.
Case History and Allegations
According to the National Judicial Data Grid, the case was first registered in January 1986 after a fraud was uncovered at Punjab & Sind Bank. Tyagi, along with others, was accused of forging documents, tampering with valuable securities, and falsifying bank accounts between 1984 and 1985. The fraud allegedly involved making false credit entries and clearing cheques without sufficient funds in the accounts.
The Central Bureau of Investigation (CBI) took over the case in 1986, consolidating two separate complaints of bank fraud. A chargesheet was filed in 1988 under multiple sections of the Indian Penal Code (IPC), including:
- Section 420 – Cheating and dishonestly inducing delivery of property
- Section 467 – Forgery of valuable security
- Section 477A – Falsification of accounts
- Section 120B – Criminal conspiracy
Initially handled by Delhi’s Tis Hazari Court, the case was transferred to Rouse Avenue Court in 2019 for further proceedings.
Tyagi’s Guilty Plea and Court’s Decision
On January 29, 2025, Tyagi submitted an application seeking to plead guilty to all charges. The court informed him about the legal consequences of his plea, but he maintained his decision. The court recorded his statement and found it to be voluntary, ruling that there was no reason to doubt the prosecution’s case.
During the sentencing, the CBI counsel urged the court to impose the maximum punishment to send a strong message against financial crimes. However, the court took a lenient view, noting Tyagi’s age and his willingness to repent.
“The convict has shown a genuine desire to reform. He should be given an opportunity to reintegrate into society as a responsible citizen,” the court stated.
