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 convicts are Manish Jain, his father Ramesh Kumar Jain, and Rachna Jain, all residents of Mahavir Jain Colony in Ludhiana; Bhupinder Singh and Pritpal Singh of Dugri, Ludhiana; and Sanjeev Kumar Jain and Anita Jain of New Tagore Nagar, Ludhiana. The court awarded Manish Jain and Ramesh Kumar Jain three years' rigorous imprisonment along with a fine of Rs.35,000 each, while the remaining five convicts received three years' imprisonment and a fine of Rs.15,000 each. 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 thebank. 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 allegedly secured the higher limit after submitting forged audited balance sheets for multiple years, fake SBI account statements, an inflated turnover report and a fabricated chartered accountant certificate to show higher net worth and eligibility. During probe, the CBI discovered significant discrepancies between the balance sheets submitted to the bank and those filed with the income tax department. The agency also found that the SBI account statement submitted by the accused during the loan process showed exaggerated credit turnover and contained fabricated transactions totalling Rs.9.23 crore....