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<p>A Special CBI Court in Ahmedabad sentenced three individuals, including Shishir Kumar, the then Branch Manager of Dena Bank, Silvassa, to three years of rigorous imprisonment in a bank fraud case. The court also imposed a collective fine of Rs. 3.8 lakh on the convicts, marking a significant development in a case registered nearly two decades ago.</p>
<p>The verdict, delivered by Special Judge (CBI cases) Court No. 06, held Shishir Kumar Srivastava and two private individuals&mdash;Babu Jayesh Singh Ganeshsingh Thakur, proprietor of M/s Sumanbhai Bhailalbhai &amp; Co, and Sumabbhai Bhailalbhai Sheikh&mdash;guilty of criminal conspiracy, cheating, and forgery among other charges.</p>
<h3>Fraud Scheme Unearthed</h3>
<p>The case dates back to 2002-2003 when Shishir Kumar, then manager of Dena Bank&rsquo;s Amli Branch in Silvassa, allegedly conspired with the other accused to prepare and use forged bank guarantees in favor of Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL). The fraudulent documents bore the bank's seal, enabling the perpetrators to deceive the companies and cause a loss of approximately Rs. 1.93 crore to the government exchequer.</p>
<p>CBI registered the case on June 1, 2005, following allegations of financial misconduct and abuse of official position by Kumar. The investigative agency later filed a chargesheet against the accused on July 26, 2006, laying out detailed evidence of their criminal acts.</p>
<h3>Charges and Conviction</h3>
<p>The trial revolved around multiple charges under the Indian Penal Code (IPC), including criminal conspiracy (Section 120B), cheating (Section 420), forgery of valuable security (Section 467), and criminal misconduct under the Prevention of Corruption Act. The court found the evidence against the accused substantial, leading to their conviction.</p>
<h3>A Message on Accountability</h3>
<p>This verdict underscores the judiciary's firm stance against white-collar crimes. The Special CBI Court's judgment highlights the importance of holding public officials and private collaborators accountable for breaches of trust and misuse of power that harm public institutions.</p>
<p>With this sentencing, the nearly two-decade-long legal battle has reached a critical conclusion, delivering justice in a high-stakes financial crime case.</p>
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Ahmedabad City and Sessions court premises

CBI court convicts trio in Silvassa bank fraud; imposes Rs. 3.8 lakh fine

Ex-Dena Bank Manager, Two Others Sentenced in Fraud Case

CBI court convicts trio in Silvassa bank fraud; imposes Rs. 3.8 lakh fine

December 6, 2024 | 20:35 IST