E-Paper
Mohali court sentences 13 in ₹45.7-lakh bank scam
Two convicts were awarded rigorous imprisonment of one year and three months, while the remaining were sentenced to imprisonment till the rising of the court (TRC). The judgment was pronounced by special judge-II (CBI) Baljinder Singh Sra.
A local court on Monday sentenced 13 co-accused involved in a high-profile scam that caused a loss of ₹45.74 lakh to the State Bank of Hyderabad, Ludhiana branch.
Two convicts were awarded rigorous imprisonment of one year and three months, while the remaining were sentenced to imprisonment till the rising of the court (TRC). The judgment was pronounced by special judge-II (CBI) Baljinder Singh Sra.
In 2003, the case was registered on the basis of written complaint of State Bank of Hyderabad, Ludhiana branch, alleging that the then branch manager SS Wadhwa along with other accused persons had abused his official position and sanctioned housing loans by flouting bank’s norms, rules and regulations and without safeguarding the bank’s interest caused wrongful loss to the bank and corresponding against to the borrowers.
Upon completion of investigation, it was established that Wadhwa in connivance with middleman Ashwani Puri had sanctioned housing loans ranging from ₹2 lakh to ₹9.50 lakh to 11 borrowers on the basis of forged/false documents i.e. ITRs, building plans etc., and thus caused a wrongful loss to the tune of ₹45.74 lakh to the bank. The chargesheet was filed against 20 accused persons (one public servant and 19 private persons) under sections 420, 467, 468, 471 of the IPC and Section 13(2) read with 13(1)(d) of the PC Act. Charges were framed against 16 accused persons under section 120-B read with 420, 467, 468, 471 of the IPC and Section 13(2) read with 13(1)(d) of the PC Act and substantive offences thereof.
During the proceedings, public prosecutor for CBI, Anmol Narang informed the court that the main accused, Wadhwa, the then branch manager of State Bank of Hyderabad, Ludhiana, had died during the trial, and proceedings against him were abated by an order dated September 7, 2021. Three accused — Heera Rai, Hardev Singh, and Mangat Ram — were declared proclaimed offenders, while accused Tilakdhari died during the trial and Harchand Singh and another accused passed away before framing of charges. All the accused were residents of Ludhiana.
Narang stated that since the only public servant had died during the trial and all the borrowers had repaid their loans, the court considered these mitigating factors while pronouncing the sentences.
Accordingly, the court sentenced Ashwani Puri to one year of rigorous imprisonment under Section 420 read with 120-B of the IPC and a fine of ₹5,000; and three months’ RI under Section 120-B read with 471 of the IPC with a fine of ₹2,500. Arvind Jain to three months’ RI under Section 420 read with 120-B of the IPC and a fine of ₹2,500; and imprisonment till rising of the court (TRC) under Section 120-B read with 471 of the IPC with a fine of ₹250. Shallu Jain to imprisonment till rising of the court (TRC) under both Sections 420 read with 120-B of the IPC and 120-B read with 471 of the IPC, along with fines of ₹2,500 and ₹1,500, respectively.
Gurmeet Kaur, Surinder Kaur, Surender Kumar, Swaroop Singh, and Hussan Lal to imprisonment till rising of the court and a fine of ₹2,500 each under Section 120-B read with 471 of the IPC.
Raj Rani, Naveen Kumar, Nand Lal, and Shingara Singh to imprisonment till rising of the court and a fine of ₹1,500 each under Section 120-B read with section 471 of the IPC.
In 2011, the chargesheet was filed against 20 accused persons (one public servant and 19 private individuals) under Sections 420, 467, 468, 471 IPC and Section 13(2) read with 13(1)(d) of the Prevention of Corruption Act. Subsequently, charges were framed against 16 accused under Section 120-B read with 420, 467, 468, 471 of the IPC and Section 13(2) read with 13(1)(d) of the PC Act and the substantive offences thereof.
