New Delhi,
The Special Judge for CBI Cases, Mohali (Punjab) has sentenced the following persons to undergo three years rigorous imprisonment: Sh. Satnam Singh Wadhwa, the then Branch Manager, State Bank of Hyderabad, Small Scale Industries Branch, Ludhiana and Private persons i.e. Sh. Sandeep Gauba resident of Civil Lines, Ludhiana; Sh. Mahender Pal Singla resident of Haibowal Kanal, Ludhiana; Sh. Sanjay Sethi resident of New Tagore Nagar, Ludhiana; Sh. Randhir Singh resident of Dhuri Line, Ludhiana; Sh. Hafiz Ansari resident of New Kirpal Nagar, Ludhiana; Sh. Ashwani Kumar Sharma resident of Guru Arjan Dev Nagar, Ludhiana; Ms. Veena Rani @ Veena Banot resident of Guru Arjan Dev Nagar, Ludhiana; Sh. Surinder Chauhan resident of Haibowal Kalan, Ludhiana; Sh. Suresh Chauhan resident of Haibowal, Ludhiana; Smt. Sheela Rani resident of Gulchaman Gali, Ludhiana; Sh. Prem Chand resident of Gulchaman Gali, Ludhiana; Sh. Om Parkash resident of Moti Nagar, Ludhiana; Smt. Tamanna resident of Haibowal Kalan, Ludhiana; Sh. Akash resident of Haibowal Kalan, Ludhiana; Sh. Augustin Das resident of Urban Estate, Ludhiana; Sh. Kanwaljit Singh resident of Near Kidwai Nagar, Ludhiana; Smt. Shashi Sharma resident of Jamalpur, Ludhiana; Sh. Amit Kumar resident of Samrala Chowk, Ludhiana; Sh. Mohd. Aslam resident of Tibba Road, Ludhiana; Sh. Naresh Kumar Arora resident of New Shivaji Nagar, Ludhiana; Ms. Bindu resident of Chander Nagar, Ludhiana; Sh. Joginder Pal Singh resident of Haibowal Kalan, Ludhiana and Smt. Rekha Rani resident of Haibowal Kalan Ludhiana. A total fine of Rs. 1.70 lakh was imposed on the accused persons.

CBI, had registered a case 30.09.2003 under section 120-B r/w 420, 467, 468 & 471 of IPC & Section 13(2) r/w 13(1)(d) of PC Act 1988 and substantive sections thereof on a complaint from State Bank of Hyderabad, Hyderabad, alleging therein that S/Shri Satnam Singh Wadhwa along with Anurag Gupta of M/s Gupta Associated, Ludhiana and others entered into a conspiracy to cheat the State Bank of Hyderabad, SSI Branch, Ludhiana. In pursuance of the said conspiracy, Sh. Satnam Singh Wadhwa, Branch Manager flouted the Banks norms and caused a wrongful loss to the tune of Rs. 5.86 Crore (approx) by way of sanctioning indiscriminate housing loans on the basis of forged documents and cheated the bank for corresponding gain to the borrowers and themselves.

After completion of investigation, a charge sheet was filed in the Designated Court against 26 accused persons. The trial court convicted 24 accused and 2 accused had expired during the trial.


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