A Delhi court has awarded three years’ imprisonment each to two former managers of Punjab National Bank and a private person in a cheating and corruption case.
It also imposed cumulative fines of ₹37 lakh on the three accused. They will serve imprisonment of different terms if they fail to pay the fine. Counsel for the private person, Ranjan Kashyap, urged the court to take a lenient view while sentencing him saying that the matter was settled with the bank and dues amounting to ₹2,76,02,523.26 were returned.
The other accused, S.V. Chauhan, the then chief manager at Paharganj branch, and erstwhile manager Lalpat Chandolia also pleaded with the court for a lenient punishment.
“Evidence of PW24 has shown that accused-1, Y. N. Kashyap [since deceased], had a direct role in forging the title deed of industrial property no.89, Sector-24, Faridabad. Since the said accused died during pendency of present trial, no conviction is passed on Section 468 [forgery for the purpose of cheating] of IPC..,” the court said.
