Overview
- The special CBI court, which delivered the verdict Friday, handed prison terms of two to three years and fines to eight defendants in the PNB loan fraud case.
- Retired PNB officials Gurinder Singh, KGCS Iyer and KE Surendiranath each received two years of rigorous imprisonment and a Rs 1 lakh fine.
- Surat businesspersons Sanjay Nagji Patel and Hitesh Domadiya were sentenced to three years, while Satish Davra, Vaishali Davra and Ramilaben Bhikadiya got two years, and Jalpa Enterprise Pvt Ltd was fined Rs 50,000.
- CBI investigators said forged documents secured a 2011 credit package for 44 water-jet looms, and bank staff approved it without required checks.
- The agency put PNB’s loss at Rs 156.98 lakh plus interest, while reports conflict on the 2016 sequence of case registration and charge-sheet filing.