Bank Fraud Convict Who Escaped Judicial Custody and Lived Under a False Identity Sentenced to 7 Years in Jail:

A CBI court at Rouse Avenue District Courts in New Delhi has sentenced Sanjeev Dixit alias Sanjay Sharma to seven years of rigorous imprisonment in a bank fraud case. The court also imposed a fine of Rs. 1.60 lakh on him.

The Central Bureau of Investigation (CBI) registered the case on July 11, 2013, against Sanjeev Dixit, proprietor of M/s Shankar Metals; Sanjay Sharma, proprietor of M/s Super Machines; Indra Rani; and other unknown persons. The accused were alleged to have conspired to fraudulently obtain a cash credit loan of Rs. 4 crore from Punjab National Bank’s Jor Bagh branch in New Delhi using fake and forged property documents.

According to the case, the loan amount was allegedly used for purposes other than those for which it had been approved. The CBI investigated the alleged fraud involving the bank’s loan facility.

In 2016, Sanjeev Dixit alias Sanjay Sharma escaped from judicial custody while being taken to a court in Sonipat in connection with another case. He remained absconding and was declared a proclaimed offender by the trial court on November 23, 2017.

In January 2026, CBI got information that the accused was staying in Vadodara under a false identity, using the name of Pankaj Bhardwaj, son of Brij Mohan Bhardwaj. Based on the information, CBI traced him to Mata Tripura Sundari Mandir in Umrai, Banswara and arrested him on January 30, 2026.

During the trial, the accused pled guilty to criminal conspiracy, cheating, impersonation, forgery and passing off forged documents as genuine. Following his guilty plea, the court convicted him and, on October 24, 2026, sentenced him to seven years of rigorous imprisonment along with a fine of Rs. 1.60 lakh.