Ahmedabad, Nov 15 (PTI) A special CBI court in Ahmedabad in Gujarat sentenced the then senior manager of Punjab National Bank and two others to five years in jail and imposed a cumulative fine of Rs 21.5 lakh on them for defrauding the lender of Rs 40 lakh.

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A CBI release issued on Monday said Sanjiv Kamalkar Inamdar, the then senior manager of Ambawadi branch of Punjab National Bank here, and two proprietors of Jainal Enterprise, Mayank Shah and Rikin Shah, were sentenced to five years in jail, with Inamdar being fined Rs 7.5 lakh and the Shahs needing to pay Rs 7 lakh each.

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As per the case registered by the Central Bureau of Investigation on December 2, 2004, the bank official was accused of sanctioning cash credit (hypothecation) facility of Rs 40 lakh to Shah in conspiracy with the other accused through the use of forged documents and without carrying any verification.

The charge sheet was filed on October 6, 2006.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)