Ahmedabad, Dec 13 – A CBI court in Ahmedabad has handed down three‑year terms of rigorous imprisonment to four private individuals, each also fined Rs 50,000, for a bank‑fraud case involving the Bank of Baroda. The offenders—Manojbhai B. Tanti, Pareshbhai M. Tanti, Poorva Pareshbhai Tanti and Lilavanti M. Tanti—are partners in M/s P.M. Marketing in the city. The judgment was pronounced on Friday, December 12.
According to the CBI, the case was first registered on September 30, 2008, after allegations that the defendants, acting in criminal conspiracy and with malicious intent, fabricated financial statements to illegally secure a Rs 3 crore cash‑credit facility from Bank of Baroda. The investigation revealed that while seeking the facility, the partners deliberately hid the fact that M/s P.M. Marketing already held a cash credit line from the State Bank of India.
By concealing this material information, they caused Bank of Baroda to suffer a loss of Rs 3.48 crore and obtained wrongful gains for themselves, the CBI said. Further probes showed that the partners used falsified documents to obtain the Bank of Baroda credit and, in collusion with SBI officials, failed to disclose the prior facility before taking a new loan.
After completing the inquiry, the CBI filed a charge sheet on December 11, 2009. Following the trial, the court found all four accused guilty and imposed the sentences accordingly.
The CBI continues to investigate bribery and fraud cases, leading to convictions of public servants and private individuals, with punishments ranging from imprisonment to sizeable fines.
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