Three Delhi bizmen get 2-yr jail

PANCHKULA : A CBI court on Thursday convicted three Delhibased businessmen in a case of bank fraud and cheating to the tune of Rs 3.95 crore.

Accused SK Arora, Rahul Arora and Vikram Puri, all associated with Faridabad based firm WRIL, were sentenced concurrently for two years for criminal conspiracy, fraud and forgery.

The court of Kapil Rathi has found them guilty for entering into a criminal conspiracy to cheat the Oriental Bank of Commerce and availing various credit facilities from its Ambala branch on the basis of fabricated and forged security documents of properties.

They also got discounted export bills containing forged bills and thereby caused wrongful loss to bank to tune of Rs.3.95 crore and corresponding wrongful gain to the company and themselves.

The CBI registered the case in 2003 on the basis of a written complaint submitted by AK Mishra, the then chief vigilance officer of the bank in Delhi.

The order said that the convicts does not deserve the benefit of probation, as the CBI had been able to prove its case against the accused beyond reasonable doubt and they had committed offences punishable under sections 120 and 420 and 471 IPC.

It added that the accused committed the offence of cheating with dishonest intention and used the forged documents in order to cheat the bank.

They got the funds released from the bank and used them for other purposes and caused a huge loss to the banking institution.