New Delhi, March 6, 2014: The Special Judge, CBI Court No 2, Mirzapur, Ahmedabad has convicted Amrish S Kapadia, a private person and sentenced him to undergo seven years simple imprisonment with fine of Rs 2 lakhs. The Court has also ordered to set off the period spent in the jail by the accused during the trial.
CBI had registered a case on the allegations that the then Branch Manager, UCO Bank, Maninagar Branch, Ahmedabad during the year 1989-90 entered into criminal conspiracy with two private persons and a private firm. He sanctioned bill purchase limit & credit facility for Rs.25,00,000 and Rs.15,00,000 respectively. The bills drawn by the private firm accompanied with MTRs were purchased by then Branch Manager and the amounts were credited in the firm’s accounts. The drawee firms were not having any business connection with the said private firm. The bills returned as unpaid and thereby causing loss of Rs.25,00,000 to the UCO Bank. CBI filed charge-sheet against five accused in this case.
During Trial, then Branch Manager of UCO Bank and two other persons were expired and the case against them was abated. The said private firm was also exonerated. The Trial Court convicted Amrish S. Kapadia, a private person.