New Delhi: The Special Judge CBI cases at Rouse Avenue Courts in the national capital has sentenced V.B.Katoria, ex Branch Manager of the Pusa Road Branch of Bank of Baroda here and Santosh Kumar Jasrasaria, a former Director of Delhi based Saras Cabs Private Limited to undergo four years of Rigorous Imprisonment with fine of Rs.1,10,000 each. A fine of Rs. half million was also imposed upon Saras Cabs Private Limited.
This case was registered on 29 April 2002 on a complaint from Bank of Baroda. It was alleged that accused defrauded the Bank of Baroda in the matter of credit facility and Bank Guarantee obtained by the accused for a sum of over Rs. 22 million for the purpose of purchasing and operating 50 radio taxis at New Delhi. The accused also defrauded the bank in the matter of credit facility and bank guarantee obtained for a sum of Rs.15 million for facilitating supply of various food items to the Department of Social Welfare (Government of National Capital Region), Super Bazar, Delhi and Govt of Nagaland. After investigation, a chargesheet was filed against the accused for causing an alleged loss of Rs.27.4 million crore(approx) to Bank of Baroda.
The Trial Court found the accused guilty and convicted them.