CBI court sentences three officials of SAIL & SBI to 7 yr-rigorous imprisonment

New Delhi :  A Special CBI Judge in Punjab's Mohali on Tuesday convicted two SAIL officers and one SBI employee in a cheating case and sentenced them to seven years Rigorous Imprisonment with a total fine of Rs 2.45 lakh, said officials.

The accused who were convicted are -- Shankar Batra, then Manager, SAIL; Ashwini Oberoi, then Senior Assistant or Cashier, SAIL; and Buta Ram Ghai, then Assistant, SBI. A CBI spokesperson here said that the agency had registered a case against then Chief Manager, SBI and others.

In the FIR, it was alleged that the accused entered into conspiracy with each other and fraudulently cheated the SBI, New Railway Road Branch in Punjab's Jalandhar. The official said that an alleged loss to the tune of Rs 18.63 crore was caused by way of manipulation, forgery, cheating, fraud, etc.

"After investigation, a charge sheet was filed before the Court of Special Judge, CBI Cases, SAS Nagar, Mohali on September 13, 2004, against seven accused, including then public servants and then Directors of private company.

"During trial, four accused, including then Chief Manager, SBI and said Directors of a private company expired and proceedings against them were abated. The Trial Court found the said three accused guilty and convicted them," the official added.