The Special Judge for CBI Cases, Court No. 01, Ahmedabad, delivered a verdict today in a significant bank fraud case, sentencing eight individuals, including Shri Becharbhai Ganeshbhai Zala, former Branch Manager of the State Bank of Saurashtra, Naroda Road Branch, Ahmedabad, and seven private persons, to rigorous imprisonment (RI) ranging from 3 to 5 years. The court also imposed a cumulative fine of ₹6.5 lakh on the accused.
The State Bank of Saurashtra was a government-owned bank in India, with its headquarters at Bhavnagar. It was one of the seven Associate Banks of the State Bank of India, with which it merged on 13 August 2008.
Punishment Imposed:
- Shri Becharbhai Ganeshbhai Zala (then Branch Manager):
- Sentenced to 5 years’ RI with a fine of ₹1 lakh.
- Convicted for criminal breach of trust and criminal misconduct by a public servant.
- Shri Tejas Rameshchandra Brahmbhatt:
- Sentenced to 3 years’ RI with a fine of ₹50,000.
- Convicted for forgery of valuable security and forgery for the purpose of cheating.
- Shri Amit H. Patel:
- Sentenced to 5 years’ RI with a fine of ₹1 lakh.
- Convicted for cheating, forgery of valuable security, forgery for the purpose of cheating, and using forged documents as genuine.
- Shri Nileshbhai D. Shah:
- Sentenced to 5 years’ RI with a fine of ₹25,000.
- Convicted for cheating.
- Shri Paresh Kantilal Bhagat:
- Sentenced to 3 years’ RI with a fine of ₹50,000.
- Convicted for forgery of valuable security and forgery for the purpose of cheating.
- Shri Atul Dashrathlal Brahmbhatt:
- Sentenced to 5 years’ RI with a fine of ₹25,000.
- Convicted for cheating.
- Shri Ritesh Dhirajlal Sheth:
- Sentenced to 5 years’ RI with a fine of ₹1 lakh.
- Convicted for cheating, forgery of valuable security, forgery for the purpose of cheating, and using forged documents as genuine.
- Shri Kartik Harshadrai Patel:
- Sentenced to 5 years’ RI with a fine of ₹1 lakh.
- Convicted for cheating, forgery of valuable security, forgery for the purpose of cheating, and using forged documents as genuine.
Case Background:
The CBI registered the case on 18.07.2002, based on allegations that Shri B.G. Zala, in his capacity as Branch Manager, conspired with private individuals to defraud the State Bank of Saurashtra’s Naroda Road Branch. He allegedly abused his official position to sanction car loans based on forged and fabricated documents.
Loans sanctioned included:
- ₹4 lakhs each to Shri Kartik H. Patel and Shri Ritesh Dhirajlal Sheth.
- ₹4.85 lakhs to Shri Amit H. Patel.
Modus Operandi:
- The accused submitted forged car loan applications along with fake documents such as bogus quotations, fabricated income tax returns (ITRs), and falsified margin money receipts.
- These documents purportedly originated from fictitious firms such as M/s Neelam Motors, Vapi, and M/s Khanna Motors.
- Shri Atul D. Brahmbhatt and Shri Nilesh D. Shah were instrumental in preparing the fake quotations and receipts, while Shri Tejas Rameshchandra Brahmbhatt forged insurance documents.
- Guarantors, including Shri Paresh Kantilal Bhagat and Shri Pankaj Umedrambhai Patel, stood surety for these fraudulent loans.
Shri B.G. Zala approved the loans without verifying the eligibility or authenticity of the borrowers and their documents. This led to a significant financial loss to the bank.
Investigation and Trial:
After a detailed investigation, the CBI filed 12 separate chargesheets on various dates. The court found the accused guilty of conspiracy, forgery, cheating, and abuse of official position.
Verdict:
The court convicted all eight accused and imposed sentences based on the gravity of their offences. The verdict underscores the judiciary’s commitment to curbing corruption and ensuring accountability in public and private institutions.
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