A Special court for CBI cases has sentenced a former manager of the Roshanara branch of the Punjab and Sindh Bank here to one year of rigorous imprisonment, holding him guilty of cheating the bank of Rs.1.35 crore in conspiracy with a businessman.
Businessman P.V. Khullar had entered into a criminal conspiracy with the then manager Maha Singh to create false liability of Rs.1.35 crore on the bank through a fraudulent transaction between two private companies in 1998.
Special Judge Kanwaljeet Arora also awarded the same quantum of sentence to the businessman.
“The prosecution has been able to establish from the evidence on record that Maha Singh, being public servant, had hatched a criminal conspiracy and in furtherance of the conspiracy which he had with P.V. Khullar, he attempted to abuse his official position as a public servant,” the Judge said in the 190-page judgment.
In the charge-sheet, the CBI alleged that the accused persons had entered into a criminal conspiracy with the intent to create a false liability of Rs.1.35 crore on the bank by getting “co-acceptance” of a Bill of Exchange (Hundi) against a fraudulent transaction of sale and purchase of rice between M/s TAR Agro Farms (P) Limited, Chennai, and M/s Solar Finvest (P) Limited, New Delhi, and thereby causing wrongful loss to the bank and wrongful gain to themselves.
