Lucknow, March 30: In a significant ruling in a long-pending bank fraud case, a special court of the Central Bureau of Investigation (CBI) has delivered a verdict. The CBI court in Lucknow sentenced Ashok Kumar Dixit, the former branch manager of the State Bank of India (SBI) at the Colonelganj branch in Allahabad, and Govind Ram Tiwari, the proprietor of M/S GR Associates, to five years of rigorous imprisonment each. Additionally, both have been fined a total of ₹13 lakh.
According to a press release issued by the CBI on Monday, the case dates back to 2003-2004 when Ashok Kumar Dixit was serving as the branch manager. It is alleged that he conspired with Govind Ram Tiwari to approve and disburse 36 housing loans based on forged documents. The total amount of these loans was approximately ₹1 crore 69 lakh 45 thousand. Investigations revealed that these fraudulent loans caused a loss of around ₹1 crore 81 lakh 85 thousand 500 to the bank, while the accused benefited directly from the scheme.
The CBI registered the case on May 31, 2005, based on information received from a source. After a thorough investigation, the agency filed a charge sheet on August 8, 2007, naming both defendants. Following a lengthy hearing and examination of evidence, the special court found both guilty. The court concluded that the defendants systematically deceived the bank by approving fraudulent loans and committing economic crimes.
This verdict is seen as a strong message against corruption in the banking sector. The court’s decision underscores that those who commit fraud against financial institutions will face severe penalties under the law. According to CBI officials, the agency remains committed to combating economic crimes and ensuring that offenders are brought to justice.
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