Ahmedabad: A CBI court in Ahmedabad on April 10, 2026, convicted and sentenced three retired Punjab National Bank (PNB) officials and five private individuals in a bank fraud case involving forged documents and wrongful loan disbursal.

The convicted bank officials include Gurinder Singh (Retired Assistant General Manager), K.G.C.S. Iyer (Retired Chief Manager), and K.E. Surendiranath (Retired Senior Manager). All three have been sentenced to two years of rigorous imprisonment and fined ₹1 lakh each.

Among private individuals, Sanjay Nagjibhai Patel, Director of Jalpa Enterprise Pvt. Ltd., has been awarded three years of rigorous imprisonment and a fine of ₹50,000. Satish Nagjibhai Davra has been sentenced to two years’ imprisonment with a fine of ₹50,000, while Hitesh Domadiya has been sentenced to three years’ imprisonment and a fine of ₹1 lakh. Vaishaliben Davra and Ramilaben Bhikadiya have been sentenced to two years’ imprisonment each with fines of ₹50,000. The court also imposed a fine of ₹50,000 on Jalpa Enterprise Pvt. Ltd.

According to the Central Bureau of Investigation (CBI), the case was registered in August 2016 against Shailesh Bhikhabhai Satasiya, proprietor of Shree Kali Textiles, and others. The accused had allegedly obtained a term loan of ₹3.7 crore and a cash credit limit of ₹40 lakh from PNB in 2011 for purchasing machinery and business operations.

The investigation revealed that forged documents were submitted to secure the loan, and bank officials sanctioned and disbursed the funds without following due procedures. This resulted in a wrongful loss of ₹156.98 lakh, along with interest, to the bank.

Following the investigation, a chargesheet was filed, and the court, after trial, found the accused guilty and sentenced them accordingly. DeshGujarat