Stay updated with the latest - Click here to follow us on Instagram
© The Indian Express Pvt Ltd
Journalism of Courage
Premium
4 partners of Ahmedabad firm get 3 years in jail in Rs 3-crore bank loan fraud case
The CBI said its investigation established that the partners of M/s PM Marketing had availed the cash credit facility from Bank of Baroda by submitting fabricated financial statements.
A local Congress leader said Jagtap was in touch with the state Congress leaders and is likely to join the party soon.
The CBI court in Ahmedabad Friday sentenced four persons to three years’ imprisonment and imposed a fine of Rs 50,000 on each of them in a bank loan fraud case.
The accused have been identified as Manoj B Tanti, Paresh M Tanti; Poorva Paresh Tanti and Lilavanti M Tanti, all partners of M/s PM Marketing of Ahmedabad.
In a statement on Saturday, the Central Bureau of Investigation (CBI) said it had registered the case on September 30, 2008, based on allegations that the accused persons, in criminal conspiracy and with malafide intention, had submitted fabricated financial statements in order to obtain the cash credit facility to the tune of Rs 3 crore from Bank of Baroda.
“The accused persons had availed the said cash credit facility suppressing the fact of previous cash credit facility availed from State Bank of India and thus caused wrongful loss to the tune of Rs 3.48 crore to Bank of Baroda,” the Central agency said.
The CBI said its investigation established that the partners of M/s PM Marketing had availed the cash credit facility from Bank of Baroda by submitting fabricated financial statements. Investigation also established that the accused persons in conspiracy with a few officials of State Bank of India had suppressed the fact of previous cash credit facility availed from SBI before availing the same from Bank of Baroda.
The CBI filed its chargesheet in the case on December 11, 2009, and after the trial, the court convicted and sentenced the four persons.
Advertisement
Loading Recommendations...
- 01
- 02
- 03
- 04
- 05
Live Blog