New Delhi, February 27, 2015: The Special Judge for CBI Cases, Ahmedabad (Gujarat) has convicted Girish Patel, Proprietor of M/s Supreme Diamond Works, Surat; Nagjibhai R.Patel (Private Person) & Parsottam M.Patel, Proprietor of M/s Shrinathji Diamond Works, Ahmedabad and sentenced Girish Patel & Parsottam M.Patel, both to undergo two years Simple Imprisonment with fine of Rs.17,000 & Nagjibhai R.Patel to undergo one year Simple Imprisonment with fine of Rs.8,000.
The instant case was registered on the basis of a complaint received from erstwhile State Bank of Saurashtra, Head Office, Bhavnagar wherein it was alleged that the bank officers had sanctioned three loans to three different firms on the basis of bogus invoices/quotations and caused a loss of Rs.5,47,000 (approx) to the Bank.
The investigation revealed that three firms/persons viz. M/s Supreme Diamond Works owned by Girish Patel; M/s Shrinathji Diamond Works owned by P.M.Patel and M.R.Patel had applied for three different loans amounting to Rs.5,47,000/- to purchase Diamond Cutting Machines with erstwhile State Bank of Saurashtra. The Bank officers sanctioned and disbursed the said loans on the basis of bogus invoices/quotations of a non-existent firm M/s A.K.Traders. Investigation further revealed that no such machineries were ever purchased by the accused borrowers. A total loss to the tune of Rs.5,47,000 (approx) was caused to the Bank.
The Trial Court found the said private persons guilty and acquitted the bank officials./ (SK Vyas/Jalandhar)
Date:
Friday, February 27, 2015