Face2News/Ahmedabad

The CBI Court, Ahmedabad, on Monday convicted and sentenced four accused, including the then Sr. Manager and the then Asstt. Manager of UCO Bank, Chiloda Brach, Gandhinagar and two private persons to Rigorous Imprisonment for five Years with fine in two separate bank fraud cases. 

In the first case, the CBI Court Ahmedabad, convicted and sentenced the accused Medam Bhagavathi Prasad, the then Sr. Manager and Bhaskar Rameshchandra Soni, the then Asstt. Manager of UCO Bank, Chiloda Brach, Gandhinagar, and Jayendrasinh Dahyaji Makwana, Prop. of M/s. Heaven Five Enterprise, Sabarkantha to Rigorous Imprisonment for 5 Years with a total fine of Rs. 1.33 Crore in a bank fraud case. 

The CBI registered a bank fraud case on 27.04.2016 against following accused Medam Bhagavathi Prasad, the then Branch Manager and Shri Bhaskar Rameshchandra Soni, the then Bank Officer of UCO Bank, Chiloda Branch, Gandhinagar and Jayendrasinh Dahyaji Makwana, Prop. of M/s. Heaven Five Enterprise, Sabarkantha and others. It was alleged that the accused Medam Bhagavathi Prasad while working as public servant in the capacity of Branch Manager, UCO Bank, Chiloda Branch, Gandhinagar fraudulently sanctioned & disbursed Cash Credit Limit (including Term Loans) total amounting to Rs. 643 lakh, on the basis of forged documents to different persons/firms(borrowers). It was further alleged that the total outstanding amount in the 17 accounts as on December - 2015 was Rs. 363 Lakh. Most of the loan accounts turned into NPA and the remaining accounts are on the verge of becoming NPA account, resulting in huge loss to the UCO Bank.

After investigation, CBI filed chargesheet on 17.11.2017 against the accused including the convicted accused.  

In the Second case, the CBI Court, Ahmedabad, convicted and sentenced Four accused Medam Bhagavathi Prasad, the then Sr. Manager and Bhaskar Ramesh chandra Soni, the then Asstt. Manager of UCO Bank, Chiloda Brach, Gandhinagar and Private person namely, Vanrajji Prabhtaji Solanki, Prop. of M/s. Shree Vanraj Enterprise, Gandhinagar to undergo Rigorous Imprisonment for five Years with a total fine of Rs. 72 lakhs in a bank fraud case.

The Central Bureau of Investigation (CBI) registered a bank fraud case on 27.04.2016 against the accused Medam Bhagavathi Prasad, the then Branch Manager, Bhaskar Rameshchandra Soni, the then Bank Officer of UCO Bank, Chiloda Branch, Gandhinagar,Vanrajji Prabhtaji Solanki, Prop. of M/s. Shree Vanraj Enterprise, Gandhinagar and others.

It was alleged that the accused Medam Bhagavathi Prasad while working as public servant in the capacity of Branch Manager, UCO Bank, Chiloda Branch, Gandhinagar fraudulently sanctioned & disbursed Cash Credit Limit (including Term Loans) total amounting to Rs. 643 lakh, based on forged documents to different persons/firms(borrowers). It was further alleged that the total outstanding amount in the 17 accounts as on December - 2015 was Rs. 363 Lakh. Most of the loan accounts turned into NPA and the remaining accounts are on the verge of becoming NPA account, resulting in huge loss to the UCO Bank.

After investigation, CBI filed a chargesheet on 17.11.2017 against the accused, including the convicted accused.

The Hon’ble Court, after the trial, convicted and sentenced them accordingly.