CBI court sentences pvt firm directors to 2.5 yrs in jail
Panchkula, June 13 -- A CBI court of special judicial magistrate Anil Kumar Yadav sentenced directors of M/s Mastana Foods Private Limited, of Naya Bazar, Delhi, to two and a half years in jail each.
They were also fined Rs.10,000 each. The duo-Krishan Mohan Mendiratta and Anil Khurana- residents of Kaithal, were found guilty under Section 120-B and 420 of the IPC. The firm was also found guilty under both sections and directed to pay Rs.10,000 each.
The case dates back to February 2020. They were booked on the complaint of Bharat Bhushan Kakkar, the then DGM of SBI, Stressed Assets Management Branch, Sector-8, Chandigarh. The case concerned a wrongful loss of Rs.91.10 crore to SBI.
The court held that: "Prosecution has proved dishonest intention of borrower company to cheat the bank by dealing with dummy/shell firms for purpose of showing rosy picture of its financial position by relying upon fake paper transactions for sale and purchase without carrying out physical movement of goods and thereby induced the bank to sanction loan by relying upon those fake entries."htc...
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