Mohali, Dec. 1 -- The CBI special court in Mohali has sentenced seven people to three years' imprisonment in a Rs.7.83-crore bank fraud linked to Ludhiana-based firm M/s Manish Traders.

The court found that the accused, in conspiracy with unidentified officials of Bank of Baroda and State Bank of India, forged financial documents, fabricated bank statements and siphoned off sanctioned funds, causing heavy losses to the bank.

The case dates back to November 4, 2016, when the CBI registered an FIR on the complaint of Bank of Baroda. The bank reported that partners of M/s Manish Traders Ramesh Kumar Jain, Manish Jain and Kanta Jain had fraudulently obtained a cash credit limit of Rs.7.5 crore from its Civil Lines, Ludhiana branch.

They al...