<p>A special court in Mumbai has sentenced Bank of Maharashtra's then Assistant General Manager to three years rigorous imprisonment and a fine of Rs 2 lakh for cheating the bank to the tune of Rs 7 crore.</p>.<p>Special Judge SP Naik Nimbalkar, who presides over a special CBI court, has passed the conviction orders. </p>.<p>Those convicted are D.R. Deshpande, then AGM, Bank of Maharashtra; Mukesh M. Shah, Director of SPL Technochem Ltd, Mumbai; and Shreyansh P. Sheth, Director, SPL Technochem Ltd, Mumbai to 3 years imprisonment and a fine of Rs 1.01 crore. </p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/city/bengaluru-crime/biz-couple-bank-official-convicted-for-diverting-funds-1203342.html" target="_blank">Biz couple, bank official convicted for diverting funds </a></strong></p>.<p>The court also awarded 3 years' jail term to 5 Directors of private firms -- Dhumil Sheth, Vishal Sheth, Hasmukh Sheth, Vinod Sheth and Manoj B. Shah -- with a fine of Rs 50.5 lakh.</p>.<p>The CBI had registered a case on March 18, 2009 on a complaint from the General Manager, Bank of Maharashtra. </p>.<p>It was alleged that during the year 2007, the accused including its Directors in connivance with D R Deshpande, then AGM, Bank of Maharashtra had obtained Cash Credit limit of Rs.2.10 crore against hypothecation of inventory and receivables and LC-Inland/Import limit of Rs.5.40 crore from Bank of Maharashtra, Bandra (East) Branch, Mumbai through fraudulent means and on forged documents,” a CBI press statement said. </p>.<p>Thus, the accused cheated the bank to the tune of Rs 2,69,08,482 plus unapplied interest amounting to Rs 1,04,25,069. </p>
<p>A special court in Mumbai has sentenced Bank of Maharashtra's then Assistant General Manager to three years rigorous imprisonment and a fine of Rs 2 lakh for cheating the bank to the tune of Rs 7 crore.</p>.<p>Special Judge SP Naik Nimbalkar, who presides over a special CBI court, has passed the conviction orders. </p>.<p>Those convicted are D.R. Deshpande, then AGM, Bank of Maharashtra; Mukesh M. Shah, Director of SPL Technochem Ltd, Mumbai; and Shreyansh P. Sheth, Director, SPL Technochem Ltd, Mumbai to 3 years imprisonment and a fine of Rs 1.01 crore. </p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/city/bengaluru-crime/biz-couple-bank-official-convicted-for-diverting-funds-1203342.html" target="_blank">Biz couple, bank official convicted for diverting funds </a></strong></p>.<p>The court also awarded 3 years' jail term to 5 Directors of private firms -- Dhumil Sheth, Vishal Sheth, Hasmukh Sheth, Vinod Sheth and Manoj B. Shah -- with a fine of Rs 50.5 lakh.</p>.<p>The CBI had registered a case on March 18, 2009 on a complaint from the General Manager, Bank of Maharashtra. </p>.<p>It was alleged that during the year 2007, the accused including its Directors in connivance with D R Deshpande, then AGM, Bank of Maharashtra had obtained Cash Credit limit of Rs.2.10 crore against hypothecation of inventory and receivables and LC-Inland/Import limit of Rs.5.40 crore from Bank of Maharashtra, Bandra (East) Branch, Mumbai through fraudulent means and on forged documents,” a CBI press statement said. </p>.<p>Thus, the accused cheated the bank to the tune of Rs 2,69,08,482 plus unapplied interest amounting to Rs 1,04,25,069. </p>