
Gurcharan Singh, the former manager of the Gadrian Purva branch, along with bank officials JP Gupta and Ramnath Arya, have been convicted in a major fraud case involving Punjab and Sindh Bank in Kanpur. The CBI special judge has handed down a three-year prison sentence to both individuals, in addition to imposing a fine of Rs 5.40 lakh.
According to the CBI’s report, the case was filed on September 28, 2004. The investigation revealed that during the years 2002-2004, Gurcharan Singh, then the branch manager, and JP Gupta, a bank officer, colluded with the owner of a private company in Kanpur. Together, they conspired to open a current account and engage in fraudulent activities.
The scheme involved the issuance of 28 counterfeit IBRS totaling Rs 66.89 lakh from Gorakhpur and Varanasi. These fake IBRS were then deposited into the current account, and the funds were subsequently misappropriated. The CBI had filed a charge sheet against the accused in this case on July 25, 2007.