Mohali, June 5: A special court of the Central Bureau of Investigation (CBI) has delivered a significant verdict in a multi-crore bank fraud case. Samir Dua, a partner at GD Steel Industries in Mandi Gobindgarh, Punjab, has been found guilty and sentenced to three years in prison.
According to a press release from the CBI issued on Friday, the special court in Mohali sentenced Samir Dua to three years of rigorous imprisonment along with a fine of ₹15,000 on June 4.
The CBI reported that Samir Dua, along with co-accused Dilip Dua and others, was charged with defrauding the Indian Overseas Bank (IOB) at its Mandi Gobindgarh branch and conspiring to commit a crime.
The investigation revealed that the accused had submitted false and fabricated information to secure a cash credit limit of ₹4 crore from the bank. This fraudulent activity resulted in significant financial losses for the bank.
Following the investigation, the CBI filed a chargesheet against the accused. During the proceedings, the court found Samir Dua guilty based on the evidence and testimonies presented. The CBI noted that legal proceedings against co-accused Dilip Dua were terminated due to his death.
Earlier, on June 1, the CBI arrested a senior official from the Reliance Communications Group (RCom) in connection with the bank fraud case. Amitabh Jhunjhunwala, the Group Managing Director of RCom, was taken into custody. He was responsible for managing critical functions such as corporate finance, banking, and fund utilization.
Jhunjhunwala is accused of causing substantial losses to banks due to the misappropriation of loan funds. He played a crucial role in facilitating loans from various banks.
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