The Learned Special Judge of the CBI Central Court in Lucknow has sentenced two accused private individuals, Mr. Ramesh Chandra Dutta and Mr. Ajit Pal Singh, both Power of Attorney holders for the account of M/s Shivam Traders, Kanpur, to three years of imprisonment along with a total fine of Rs.2 lakh in a bank fraud case.
The Central Bureau of Investigation (CBI) had registered the case on 23.03.2000, based on a written complaint from the Zonal Manager of UCO Bank, Lucknow. The complaint alleged that during 1998-99, Mr. Vijay Kumar Nagar, the then Branch Manager of UCO Bank, Generalganj Branch, Kanpur, entered into a criminal conspiracy with M/s Shivam Traders, M/s M.V. & Sons, and others. Misusing his official position, he granted unauthorized credit facilities and over drawings beyond his discretionary power to these firms, causing a wrongful loss of Rs.68 lakh to the bank and a corresponding wrongful gain to the accused.
Following an investigation, a charge sheet was filed on 23.12.2002 against four individuals: Mr. Vijay Kumar Nagar (then Branch Manager, UCO Bank, Generalganj Branch, Kanpur), Mr. Ramesh Chandra Dutta, and Mr. Ajit Pal Singh (both Power of Attorney holders for M/s Shivam Traders, Kanpur), and Mr. Vijay Kumar Shukla (Power of Attorney holder for M/s M.V. & Sons, Kanpur).
After the trial, the court found the two private individuals guilty and sentenced them accordingly. During the trial, two of the accused, public servant Vijay Kumar Nagar and private individual Vijay Kumar Shukla, passed away, leading to the abatement of the trial against them.
