7 Years Rigorous Imprisonment to Officials of Sail and SBI in Bank fraud Case:

7 Years Rigorous Imprisonment to Officials of Sail and SBI in Bank fraud Case The Special Judge, Central Bureau of Invesigation (CBI) Cases, Mohali (Punjab) condemned Shri Shankar Batra, former Manager of SAIL; Shri Ashwini Oberoi, former Senior Assistant/Cashier of SAIL; and Shri Buta Ram Ghai, former Assistant of SBI, and sentenced them to 7 years of Rigorous Imprisonment (RI) with a total fine of Rs. 2,45,000. The CBI had filed a case against the former Chief Manager of SBI and others. It was claimed that the accused conspired with one another and defrauded the SBI, New Railway Road Branch, Jalandhar (Punjab). Manipulation, forgery, cheating, and fraud, among other things, are said to have resulted in a loss of Rs. 18.63 crore (approx.). Following an investigation, a chargesheet was filed on September 13, 2004, before the Court of Special Judge, CBI Cases, SAS Nagar, Mohali (Punjab), against 7 accused, comprising former public workers and former directors of a private firm. Throughout the trial, 4 accused, including the former Chief Manager of SBI and the mentioned Directors of a private firm, expired and the proceedings against them were abandoned. The Trial Court found all three accused guilty and sentenced them.