It was alleged that accused diverted the funds for their personal gain without its end utilization and caused loss to the tune of over Rs4.40 crore
FinTech BizNews Service
Mumbai, January 26, 2024: The Designated Trial courts at Mumbai and Gwalior have convicted/sentenced four accused to Rigorous Imprisonment (RI) of up to three years along with fine in two separate CBI cases.
In the first case, the Designated Court, Mumbai has sentenced Shri Dinesh Maruti Kadakane, then Prop. of M/s. Shree Gajanan Industries based at Mumbai to 3 years’ Rigorous Imprisonment (RI) along with fine of Rs5 lakh and Shri Appa Tadoba Phadke, Guarantor, to one year’s RI with fine of Rs One lakh in a case of causing loss to Central Bank of India, Mumbai, according to a press release of the CBI.
CBI had registered the said case on 25.03.2009 following a complaint made by Central Bank of India on the allegations that during the year 2002-2003, the accused persons in collusion with the bank official and other accused persons cheated the Central Bank of India while availing credit facilities on the basis of false & fabricated documents. It was also alleged that accused diverted the funds for their personal gain without its end utilization and caused loss to the tune of over Rs. 4.40 crore (approx).
After investigation CBI filed chargesheet on 30.12.2010 against seven accused including Dinesh Maruti Kadakane and Appa Tatoba Phadke. After trial, the Court found accused guilty. During the course of trial, three accused died, hence, the case against them was abated while two more were not found guilty.
In the second case, Special Judge, CBI, Vyapam Cases, Gwalior has sentenced two accused persons, namely, Ms. Priyanka Srivastava (beneficiary candidate) and Ms. Swati Singh (impersonator) in a case relating to PMT Examination 2010 conducted by VYAPAM. The convicted persons have been sentenced to undergo Rigorous Imprisonment (RI) of three years and a fine of Rs12,100/- each.
