Rs 152-crore Canara Bank Fraud Case | CBI court convicts two SRS group firms, hands 6 directors RI of four to five years

The CJM directed that all sentences should run concurrently.

During the hearing, Anil Jindal, Nanak Chand Tayal and Seema Narang sought permission to continue medical treatment in jail, citing health reasons. The court allowed their pleas and directed the jail superintendent to provide medicines as per jail rules and doctors’ prescriptions.

The Central Bureau of Investigation (CBI) had registered the case on July 14, 2020, on a complaint filed by Canara Bank’s Circle Office in Karnal, Haryana, alleging that the accused, acting in conspiracy and fraudulently, obtained credit facilities amounting to Rs 152 crore and diverted the funds for purposes other than those for which the loans were sanctioned.

The CBI investigation found that SRS Real Infrastructure Limited fraudulently availed a credit limit of Rs 42 crore and caused a wrongful loss of Rs 41.95 crore to the bank. Similarly, SRS Real Estate Ltd obtained loans worth Rs 110 crore and diverted Rs 93.20 crore through shell companies that had no genuine business activity.

After completing the probe, the CBI filed two separate chargesheets on December 31, 2022. During the trial, defence counsels argued that the accused were implicated in the case.

However, following the trial, the court, based on evidence, convicted all the accused on December 22, 2025, and pronounced the sentence on January 13.