Daijiworld Media Network - Panchkula
Panchkula, Jan 15: A Special CBI court in Haryana has convicted four officials of two real estate companies for their role in a Rs 152 crore bank loan fraud, sentencing them to jail terms ranging from four to five years along with fines, officials said.
Bishan Bansal and Nanak Chand Tayal, associated with SRS Real Infrastructure Ltd and SRS Real Estate Ltd, were handed five years of rigorous imprisonment and fined Rs 80,000 each. Convicts Seema Narang and Dheeraj Gupta received four years of rigorous imprisonment along with fines of Rs 40,000 each.
The court also imposed fines on the two companies—SRS Real Infrastructure Ltd and SRS Real Estate Ltd—of Rs 50,000 each. Additionally, private individuals Rajesh Singla and Anil Jindal were sentenced to five years of rigorous imprisonment and fined Rs 1.2 lakh each.
The case, registered by the Central Bureau of Investigation (CBI) on July 14, 2020, was based on a complaint by Canara Bank, Karnal Circle, Haryana. The bank alleged that the accused conspired to fraudulently obtain loans totaling Rs 152 crore and diverted the funds for purposes other than those sanctioned.
CBI investigations revealed that SRS Real Infrastructure Ltd and SRS Real Estate Ltd, through their respective directors, caused wrongful losses of Rs 41.95 crore and Rs 93.20 crore to Canara Bank. The funds were siphoned off using dummy companies without any genuine business activity.
Following the probe, the CBI filed two chargesheets on December 31, 2022, against the accused individuals and companies. After a lengthy trial, the court convicted the accused on December 22, 2025, and delivered the sentencing on January 13, 2026.
This verdict marks a significant step in holding corporate officials accountable for large-scale financial fraud in the banking sector.