New Delhi, January 9, 2015: The Additional Chief Metropolitan Magistrate, 19th Court, Mumbai has convicted Shashikant Kantibhai Patel and Bhanumati Shashikant Patel and M/s Teamwork Industries Pvt. Ltd.Under Section 120B, 420 read with 120-B of the IPC & Sec. 471 read with Section120-B of the IPC for causing loss ofRs. 2.14 crores (approx) to State Bank of India and sentenced them to undergo two years Rigorous Imprisonment with fine of Rs.one lakh each. A fine of Rs. one lakh has also been imposed to said firm.
This case was registered by the CBI on 24.07.2009 on a complaint received from State Bank of India on the allegations of a bank fraud in which accused persons availed credit facilities on the basis of forged and fabricated documents. A loss to the tune of Rs. 2.14 crores (approx) was caused to State Bank of India. A charge sheet was filed by the CBI on 09.12.2010 in the 19th ACMM Court, Mumbai U/s. 120-Bread with Section 420, 467, 468 and 471 of the Indian Penal Code (IPC).
(SK Vyas/Jalandhar)
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