Ahmedabad: The CBI Court, CJM, Navrangpura, on Monday convicted and sentenced the accused, Mahadev D. Patel, to 3 years of Rigorous Imprisonment (RI) and imposed a fine of ₹30,000. Additionally, a fine of ₹30,000 was also imposed on the accused company, M/s Hynoup Food & Oil Industries Ltd.

As per the official release, the CBI had registered the case based on a written complaint filed by Dena Bank, Mumbai, against Mahadev D. Patel, M/s Hynoup Food & Oil Industries Ltd (a private company), and two other individuals. The company had been availing various credit facilities from Dena Bank’s Ellis Bridge branch in Ahmedabad since January 1983. It was found that the company and its directors defrauded Dena Bank of ₹27.19 crore by committing forgery and misusing the bank’s Letter of Credit facility.

Following an investigation, a chargesheet was filed on 22/10/2001 against four accused, including the two now convicted. After the trial, the court found Mahadev D. Patel and the private company M/s Hynoup Food & Oil Industries Ltd guilty and sentenced them accordingly. DeshGujarat