Free Press Journal

Central Bank fraud case: Upper court acquits all

Indore: Setting aside a verdict by a special court that awarded three years imprisonment to nine accused in a 27- yearold fraud case in the Central Bank of India, Cloth Market branch, an upper court acquitted all of them including former branch manager Ramesh Tambe.

The bank’s branch had given Rs 2.5 lakh overbill and purchase and discount facility to Mamta Traders in 1984, which was raised to Rs 8.5 lakh in 1985.

The agency allegedly misused the facility and submitted bogus bill, bogus MTR and bogus insurance certificate in the bank. In the matter, the EOW had booked nine persons including Tambe.

Special Court judge Shubhra Singh on January 24 awarded three years imprisonment to the accused— Tambe, Aparsingh Arora, Laxman Sirwani, Arun Verma, Kaniyalal Pawar, Heeralal Khatri, Rajkumar Sethi, Mamta Sethi and Nirajanlal Verma. Challenging the verdict, the accused moved upper court with a prayer.

The accused informed the court that the bank had concealed some facts at the time of lodging the complaint in the case. It was stated that the bank had recovered the amount from the agency. It was also stated that the agency had mortgaged its property with the bank which it could have seized in case of financial misconduct. Judge Anupam Shrivastava accepted the accused’s prayer and their argument and acquitted them.