The convicted individuals are Indresh Mishra, then Branch Manager of Kshetriya Gramin Bank, Munger; Om Prakash Sharma, then Field Supervisor of Munger Gramin Bank, Barahia; Vinod Kumar Singh, Development Officer of Oriental Insurance Co., Munger; and two private individuals, Badan Singh and Sadan Singh.
Case Background
The Central Bureau of Investigation (CBI) registered the case on March 29, 1997, against Indresh Mishra and nine others. Investigations revealed that between 1983 and 1988, Indresh Mishra, while serving as Branch Manager, abused his official position by opening 76 fictitious loan accounts. He misappropriated ₹3,92,429 by creating false documents.
Further investigations uncovered a conspiracy between bank officials and private individuals pretending to be suppliers. They prepared fake documents showing the supply of materials to borrowers.
Fraudulent Loan Scheme
The accused, led by then Branch Manager Indresh Mishra, sanctioned and disbursed cattle loans to 25 fictitious borrowers. Payments were made to these so-called suppliers without any actual supply of cattle or materials. After a few months, false claims were filed with Oriental Insurance Company, alleging the cattle had died. In reality, no animals were ever purchased or supplied.
Charges and Trial
After completing its investigation, the CBI filed a chargesheet on March 19, 1997. Following the trial, the court found the accused guilty of the charges, which included criminal conspiracy, abuse of power, and misappropriation of funds.
The Special Judge sentenced the five individuals to three years of rigorous imprisonment, concluding a decades-long legal process.
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