Mumbai – LIFE IMPRISONMENT TO SIX ACCUSED AND THREE YEARS IMPRISONMENT TO ONE ACCUSED FOR CAUSING HUGE LOSS TO BANK OF INDIA

The Special Judge, Mumbai has sentenced S/Shri Manoharlal Ahuja to undergo life imprisonment with a fine of Rs.50 lakh; Amit Manoharlal Ahuja to undergo life imprisonment with a fine of Rs.50 lakh; Mahesh Bohra to undergo life imprisonment with a fine of Rs.03 lakh; Sandesh Ramchandra Nage to undergo life imprisonment with a fine of Rs. 60,000/-; Shantilal Chauhan to undergo life imprisonment with a fine of Rs. 50,000/-; Bhagwanji Dayaram Joshi, the then AGM to undergo life imprisonment with fine of Rs. 01 lakh and Yunus H. Memon, an Advocate to undergo 03 years Imprisonment with a fine of Rs.3000/- in a bank fraud case.

CBI had registered a case on 24.04.2004 on a complaint from the Bank of India, Mandvi Branch, Mumbai against S/Sh. Manohar Lal Ahuja, Amit Ahuja, Mahesh Bohara, Sandesh Nage, Shantilal Chauhan, B.D. Joshi, G.K. Sharma and Yunus H. Memon u/s 120-B r/w Sec. 420, 468 and 471 of IPC and section 13(2) r/w 13(1)(d) of P.C. Act, 1988 and substantive offences thereof. It was alleged that the borrowers Sh. Manoharlal H. Ahuja and his son Sh. Amit M. Ahuja, the partners in M/s. Swift Service Linings, Sewri (W), Mumbai and some unknown officials of the Bank of India, Mandvi Branch, Mumbai during the year 2000, entered into a criminal conspiracy to defraud the Bank by using forged documents. In pursuance of the said conspiracy, M/s. Swift Service Linings fraudulently got sanctioned credit facilities of Rs.250 Lakh, which were collaterally secured by the Equitable Mortgage of the properties valued at Rs.243.14 lakh. Subsequently, the account turned NPA on 31.02.2004 and the bank suffered a loss of Rs.291 lakh. The documents deposited against the said property were found to be forged.

After investigation, a Charge Sheet u/s 120-B r/w 419, 420, 467, 468 & 471 of IPC and section 13(2) r/w 13(1)(d) of P.C. Act, 1988 & substantive offences was filed on 30.11.2005 against the accused persons in the court of Special Judge, CBI Cases, Greater Mumbai. Charges were framed against the accused persons on 12.08.2010. During trial, one of the accused Sh.G.K. Sharma expired on 09.08.2008. Therefore, the trial against him was abated. Thirty Seven (37) prosecution witnesses were examined.

The Trial Court found the accused guilty and convicted them.