FIVE YEARS IMPRISONMENT WITH FINE OF Rs. 10 LAKH TO Rs.15 LAKH TO THEN CHIEF MANAGER OF STATE BANK OF SAURASHTRA AND TWO PRIVATE PERSONS INCLUDING A CHARTERED ACCOUNTANT IN A CBI CASE
The Special Judge, CBI Cases, Karkardooma Courts, Delhi has sentenced Sh. K.K. Mishra, then Chief Manager, State Bank of Saurashtra, Lodhi Road, New Delhi & Sh. V.B. Borar, Chartered Accountant (private person), both to undergo five years Simple Imprisonment with fine of Rs. 10 lakh each and Sh. R.P. Mathur (another private person) to undergo five years Simple Imprisonment with fine of Rs. 15 lakh in a case relating to criminal conspiracy, cheating and abuse of official position by the accused.Online GST Certification Course by TaxGuru & MSME- Click here to Join
CBI had registered a case on 23.06.1995 on the allegations that Sh. V.B. Borar, a Chartered Accountant; K.K. Mishra, Chief Manager, State Bank of Saurashtra, Lodhi Road, New Delhi & others had conspired and connived to commit fraud on a private company with an intention to cheat the company themselves and succeeded in their motive by issuance of a fake bank gurantee for Rs.2.75 crores on behalf of State Bank of Saurashtra for discounting a bill of exchange of Rs. 60 lakh by said private company.
A chargesheet was filed u/s 120 B r/w Sec 420, 468 r/w 471 of IPC and 13(2) r/w 13(1) (d) of PC Act of 1998 against accused persons on 29.07.1998.
The Trial Court found the accused persons guilty and convicted them.
CBI Press Release- New Delhi , 14.07.2016