The CBI Court, Shimla sentenced 11 accused to Rigorous Imprisonment for Four Years with a total fine of Rs19,75,000
FinTech BizNews Service
Mumbai, 19 October, 2026: The CBI Court, Shimla, on 14.10.2026, sentenced 11 accused including a private company M/S Colour Camp Industries, Two public servants, namely, DSS Ravindra, the then Chief Manager, Canara Bank, Baddi, Solan and CS Verma, the then Officer, Canara Bank, Baddi, Solan and 8 private persons, namely, Rakesh Narula, Sonal Narula, Sanjeev Bahal, Harbhajan Singh, Sukhdev Singh, Piara Singh, Suman Narula and Sunil Kumar Goel to Rigorous Imprisonment for Four Years with a total fine of Rs. 19,75,000, in a Bank fraud case.
The Central Bureau of Investigation (CBI) registered the instant case on 08.05.2012 against D.S.S. Ravindra (Public Servant), C.S. Verma (Public Servant), Rakesh Narula (Private Person), M/S Colour Camp Industries (Company) and other unknown public and Pvt. Persons, on the allegations that the accused persons entered into a criminal conspiracy amongst themselves during the period from October 2008 to March 2009, with the object to cheat Canara Bank, Baddi Branch in District Solan (HP) on the basis of forged documents in the matter of sanction and disbursement of a Working Capital Loan of Rs. 7 Crore and a Term Loan of Rs 91 Lakh in favour of M/s Color Camp Industries Private Limited. It was further alleged that Foreign Bills of Exchange, amounting to Rs.4.87 Crore of the said company, discounted by the bank, were also not realized from the importers.
After investigation, the CBI filed charge sheet against the Bank Officers and private borrowers/persons in the court of Ld. Special Judge,CBI,Shimla.
The Hon’ble Court, after the trial, convicted 11 accused persons on 30.09.2026 and sentenced them on 14.10.2026.
