CBI court convicts 5 SBI officials, director of private firm in loan fraud

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A special Central Bureau of Investigation (CBI) court on Monday convicted five State Bank of India (SBI) officials along with one director of a private company in a 2010 cheating and forgery case.

Special CBI judge SU Wadgaonkar sentenced Zarina Bataliwala alias Nargis Rusi Divendry, a resident of Dombivli (West) and director of National Steel Corporation Private Limited, to five years of imprisonment. Dnyaneshwar Sawant, an employee of the company, was also sentenced to one year’s imprisonment.

Among bank officials, Utsav Prasad, then customer service officer, and Ram More, then assistant general manager, were sentenced to three years imprisonment; Jayant Bijapurkar, then assistant vice-president, was sentenced to two years in jail; and Neela Samant, then assistant general manager of Opera House branch of the bank, as well as then deputy manager Nand Kumar Karnik got one year in jail.

The special court, however, acquitted Kailash Chand Dayani, then assistant general manager, giving him the benefit of doubt.

Public Prosecutor Jeetendra Sharma had argued for CBI and had pointed out that Vijay Seth, who expired during pendency of the trial, and Divendry, both directors of National Steel Corporation Private Limited, had forged documents like balance sheets and other documents and in connivance with bank officials availed cash credit from Opera House branch of SBI to the tune of ₹90 lakh. The amount was, however, transferred to their personal accounts, thereby committing a fraud.

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