Pune: A special CBI-ACB court in the city on Tuesday sentenced a businessman-borrower and a bank credit manager to three years of rigorous imprisonment (RI) in a case relating to illegal sanction and disbursement of a Rs50 lakh cash credit facility at the Central Bank of India’s Pimpri branch between 2010 and 2011.The court later granted them both bail to enable them to move an appeal before a higher court.The case arose from an FIR registered in Feb 2016 on a complaint filed by a bank official alleging fraud in loan accounts. The prosecution’s case was that accused businessman Rajesh Shishupal Panghal, in conspiracy with bank officials including the then-branch head (since deceased) and credit manager Nandkishor Khairnar, obtained a cash credit facility in the name of M/s Nitesh Pressing by submitting forged documents, including an agreement related to a flat shown as collateral security, and financial records in 2010.As per the prosecution, the loan amount was not utilised for the sanctioned purpose, and upon inspection, no stock was found at the business premises. The account subsequently became a non-performing asset (NPA), causing a loss of Rs52.74 lakh to the bank.On his part, Panghal claimed false implication and Khairnar argued that he had acted in the course of official duties and had no role in any alleged fraud or conspiracy.The court referred to the evidence on record and held that the offence of criminal conspiracy read with cheating was proved, and that Panghal was liable for offences under sections 420, 468 and 471 of the Indian Penal Code (IPC).Khairnar was held guilty of conspiracy read with cheating and also for criminal misconduct under section 13(1)(d) read with section 13(2) of the Prevention of Corruption Act.
