CBI had registered a case on 30.03.2011 on complaint from Oriental Bank of Commerce, Indore that then Chief Manager in collusion with other accused, had sanctioned Cash Credit Facilities amounting to Rs8.1cr against forged Ware House Receipts to 7 firms
FinTech BizNews Service
Mumbai, January 1, 2024: The Special Judge, CBI Cases, Indore (Madhya Pradesh) has sentenced S/Shri NK Grover, then Chief Manager, Oriental Bank of Commerce, Sneh Nagar, Branch, Indore to undergo five years Rigorous Imprisonment with total fine of Rs. 99,000/-; Kailash Yadav, Proprietor of M/s Vyankateshwar Traders, Indore to undergo five years RI with fine of Rs. 15,000/-; Mohan Yadav (private person) to undergo five years RI with total fine of Rs. 90,000/-; Sandeep Yadav, Proprietor of M/s Madhav Traders, Indore to undergo five years RI with fine of Rs. 15,000/-; Manmohan Yadav, Proprietor of M/s Shrinath Traders, Indore to undergo five years RI with fine of Rs. 15,000/-; Deepak Yadav, Proprietor of M/s Shriram Traders, Indore to undergo five years RI with fine of Rs. 15,000/-; Rakesh Choudhary, Proprietor of M/s Choudhary Grain Merchant, Indore to undergo five years RI with fine of Rs. 15,000/-; Anil Patel Proprietor of M/s Ganesh Marketing, Indore to undergo five years RI with fine of Rs. 15,000/- and Smt. Rajni Yadav, Proprietor of M/s Sanwariva Traders, Indore to undergo three years RI with fine of Rs. 9,000/- in a Bank fraud case.
CBI had registered a case on 30.03.2011 on complaint from Oriental Bank of Commerce, Indore against Shri Naresh Kumar Grover then Chief Manager, Oriental Bank of Commerce, Sneh Nagar, Branch, Indore; Shri Kailash Yadav, Proprietor of M/s Vyankateshwar Traders, Indore and 14 others on the allegations that Shri N.K. Grover, then Chief Manager in collusion with other accused, had sanctioned Cash Credit Facilities amounting to Rs. 8.1 crore (approx.) against forged Ware House Receipts to 7 firms. The records of land, pledged as collateral security, against the said loan/ CC Facility, were also found to be false / forged.
After investigation, CBI filed 09 separate chargesheets against the accused. The Trial Court found the said accused guilty and convicted them.
