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FOUR YEARS RIGOROUS IMPRISONMENT TO PROPRIETOR OF A PRIVATE FIRM AND OTHERS FOR CAUSING LOSS OF Rs. 784.54 LAKH TO PUNJAB NATIONAL BANK

June 14, 2018 09:21 PM

New Delhi (Face2News)

The Special Judge, Patiala House Court, New Delhi has sentenced . Ashwani J. Verma & Vinay Tyagi, both Proprietors of M/s Nanak Steels Pvt. Ltd.; M.L. Arora and P.V. Krishnaji, all to undergo four years Rigorous Imprisonment with total fine of Rs. 21 lakh. The Court has also imposed a fine of Rs. 5 lakh to M/s Nanak Steels Pvt. Ltd.

CBI had registered a case and filed a chargesheet on 20.05.2010 against the accused persons on the allegations of entering into conspiracy for obtaining Credit Facilities/Term Loan/Bank Guarantees by submitting false & forged documents and diverting the bank funds, thereby causing a loss to the tune of Rs.784.54 lakh to the Punjab National Bank, South Extension Branch, New Delhi.  The Trial Court found the accused guilty and convicted them.

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