Pune: Special CBI Court in the city on Tuesday was punished and sentenced to Sr Hegde, former Chief of Manager of Canara Canara Bank Deccan Gymkhana, up to five years in prison (RI) and was sentenced to three years to RS 300 Crore Fraud Letter of Credit (LC ).
The court also imposed Hospital 1 Crore Fine in each of the two personalized limited companies – Varron Aluminum Private Limited (VAPL) and Varron Auto Comp Private Limited (VACPL) – which was among the defendants mentioned in this case.
Three people were sentenced to three years of three years including Ganesh Kolhe and Ganesh Gaikwad, an account assistant from private limited companies, and Manoj S Salvi, company owner, Ratna Metal Mart.
In a statement released on Tuesday night, the CBI stated that it had registered this case on February 23, 2017, in complaints by the Bank of India in the event of a 246 bill on the Bill against LC worth RS300 Crore issued by Canara Bank, the Gymkhana branch deccan.
It was the CBI case which according to the conspiracy by all the defendants, managing the director of the two private limited companies received a fraudulent LC issued on February 29, 2016, by the Branch of DECCAN Gymkhana which Canara Bank.
Then, 246 forged bills were submitted to the Bank of India and received the same discount cheatfully in supporting the company accused of being together.
Furthermore, the CBI said the money received from this fraud transaction was re-transferred to the account of a group of Varron companies and dishonestly / cheatedly utilized to reduce their previous obligations with the Indian state bank.
After an investigation, a chargeshet was filed in a special CBI court in Pune.