The Central Bureau of Investigation (CBI) Court in Bhopal has sentenced two persons to 7 years of rigorous imprisonment in a bank fraud case.
The CBI court has convicted Piyush Chaturvedi, who was the Senior Branch Manager of Bank of India, Misrod Branch, Bhopal, and Mohan Singh Solanki, a private individual. Both were also fined a total of ₹60,000.
Case Details
The CBI had registered the case on 25 January 2016 after receiving a written complaint from the then Deputy Zonal Manager of Bank of India, Bhopal.
It was alleged that:
- Piyush Chaturvedi fraudulently approved a term loan of ₹27 lakh.
- The loan was sanctioned in the name of M/s Vision Computer.
- After approval, the loan amount was transferred to the account of M/s Ajab Kumar Industries.
- This firm was owned by Smt. Krishna Bai Solanki, who is the wife of co-accused Mohan Singh Solanki.
Fraud and Misuse of Funds
The investigation revealed that:
- The accused acted together in a conspiracy.
- They misused and diverted the loan amount.
- This caused a financial loss to the bank.
- At the same time, they gained wrongful benefits for themselves.
Investigation and Court Decision
After completing the investigation, the CBI filed a chargesheet against both accused.
Following the trial, the court found them guilty and awarded:
- 7 years of rigorous imprisonment
- Fine of ₹60,000
The court confirmed that both accused were involved in fraudulent activities and punished them accordingly.
