Panchkula, Jan. 11 -- The special judicial magistrate for the Central Bureau of Investigation (CBI) in Panchkula has sentenced two persons to imprisonment in a major bank fraud case involving Punjab National Bank (PNB), Jind.

Phool Chand (84), proprietor of M/s Singla Agro Industries, was awarded one year of simple imprisonment, while his co-accused Rajinder Kumar was sentenced to two years in jail. Both were convicted under Sections 120B (criminal conspiracy) and 420 (cheating) of the Indian Penal Code (IPC) and were also fined Rs.25,000 each.

The case originated from a complaint filed in August 2023 by the chief manager of PNB, Jind. The investigation revealed that the fraud stemmed from credit facilities initially sanctioned to M/s S...