In a long-awaited verdict, a special court of the Central Bureau of Investigation (CBI) sentenced three former officials to seven years imprisonment for a 21-year-old scam involving forgery and corruption. The case involved officials from the State Bank of India (SBI) and the Steel Authority of India Limited (SAIL).
Convicted Officers
- Buta Ram Ghai, former Assistant/Clerk at SBI, Civil Lines Branch, Jalandhar
- Shankar Batra, ex-Manager (Finance) at SAIL, Jalandhar
- Ashwani Oberoi, former Senior Assistant (Cash)/Cashier at SAIL, Jalandhar
Details of the case
A case was registered in 2002 based on a complaint by SBI’s Vigilance department. The accused were alleged to have conspired with M/s BD Aggarwal & Sons Ltd. to defraud SBI of Rs. 18.40 crore between 1995 and 1996. The accused used forged documents and falsified accounts to cheat the bank.
Court’s verdict
The court found the accused guilty of criminal conspiracy, cheating, forgery, and falsification of accounts under the Indian Penal Code and the Prevention of Corruption Act. Each convict was sentenced to seven years imprisonment and fined Rs. 20,000. One of the accused, DK Gandotra, died during the trial.
