The CBI Court, Mohali, Punjab, has convicted and sentenced Samir Dua Partner in a Firm, namely, G.D. Ispat Udyog, Mandi Gobindgargh, Punjab, to Rigorous Imprisonment for Three Years with a Fine of Rs. 15,000 in a Multi-Crore Bank Fraud Case.
The Central Bureau of Investigation (CBI) registered the case against Dalip Dua, Samir Dua, Partners in M/s G.D. Ispat Udyog and others for entering into a criminal conspiracy to cheat the Indian Overseas Bank at Mandi Gobindgarh, Pujab.
The investigation revealed that the accused had illicitly obtained a Cash Credit Limit of Rs. 4 Crore from Indian Overseas Bank based on false and fabricated information resulting in wrongful loss to the bank.
After completion of investigation, CBI filed charge sheet against the aforesaid accused. The Hon’ble Court, after the trial, convicted and sentenced the accused accordingly. Proceedings against the co-accused Dalip Dua were abated following his demise.
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