States » NorthPosted at: Oct 14 2026 9:07PM


CBI court sentences 11 in Canara Bank fraud case to four years’ rigorous imprisonment

Shimla, Oct14 (UNI) A special CBI court on Wednesday sentenced 11 accused, including two former Canara Bank officials and eight private individuals, to four years of rigorous imprisonment each in a bank fraud case involving loans worth Rs 7.91 crore and unrealised foreign bills of exchange amounting to Rs 4.87 crore.
The court also imposed a total fine of Rs 19.75 lakh on the convicts, according to a Central Bureau of Investigation (CBI) official.
The accused include D.S.S. Ravindra, the then Chief Manager of Canara Bank’s Baddi branch in Solan district of Himachal Pradesh and C S Verma, the then bank officer at the same branch.
The other convicts are Rakesh Narula, Sonal Narula, Sanjeev Bahal, Harbhajan Singh, Sukhdev Singh, Piara Singh, Suman Narula and Sunil Kumar Goel, besides the private company Colour Camp Industries, he added.
The CBI had registered the case on May 8, 2012, against the two bank officials, Rakesh Narula, Colour Camp Industries and other unknown public and private persons.
According to the allegations, the accused entered into a criminal conspiracy between October 2008 and March 2009 to cheat Canara Bank’s Baddi branch by using forged documents to secure the sanction and disbursement of a working capital loan of Rs 7 crore and a term loan of Rs 91 lakh in favour of Colour Camp Industries Private Limited.
It was further alleged that foreign bills of exchange worth Rs 4.87 crore, discounted by the bank on behalf of the company, were not realised from the importers.
Following the investigation, the CBI filed a charge sheet against the bank officials and private borrowers and other persons before the Special Judge, CBI, Shimla.
The court convicted all 11 accused on September 30, 2026, and pronounced the sentence on October 14, the agency official said.
UNI BN
Tags: #CBI court sentences 11 in Canara Bank fraud case to four years’ rigorous imprisonment
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