A fine of Rs30,000 imposed on the accused company Hynoup Food & Oil Industries Ltd.
FinTech BizNews Service
Mumbai, July 2, 2025: The CBI Court, CJM, Navrangpura, Ahmedabad, on 30.06.2025, convicted and sentenced the accused Sh. Mahadev D Patel to 3 years Rigorous Imprisonment (RI) with a fine of Rs. 30,000/- and also imposed a fine of Rs. 30,000/- on the accused company M/s Hynoup Food & Oil Industries Ltd.
CBI had registered the case on the basis of the written complaint filed by the Dena Bank, Mumbai against Sh. Mahadev D Patel, M/s Hynoup Food & Oil Industries Ltd, a private company and two other private persons. The company M/s Hynoup Food & Oil Industries Ltd was enjoying various credit facilities with Dena Bank, Ellis Bridge branch, Ahmadabad since January 1983. The company and its directors cheated Dena Bank to the tune of Rs. 27.19 crore by indulging in forgery and misutilising the Letter of Credit facility of Dena Bank.
After investigation, Charge sheet was filed on 22/10/2001 against four accused including the two convicted accused.
After the trial, the Court found the accused Shri Mahadev D Patel and private company M/s Hynoup Food & Oil Industries Ltd guilty and sentenced them accordingly.
