GUWAHATI, June 30 � Special Judge, CBI, Assam PC Das, has sentenced two persons � Subhash Agarwala and Montosh Chandra Das � to undergo simple imprisonment (SI) for four years, besides imposing fines on charges of cheating, criminal conspiracy and criminal misconduct by public servant.
Subhash Agarwala was sentenced to undergo SI for four years and to pay a fine of Rs 50,000 for each of the offences under Section 120B (Criminal Conspiracy) and Section 420 (Cheating) of the Indian Penal Code (IPC).
Montosh Chandra Das was sentenced to undergo SI for four years and to pay a fine of Rs 50,000 for each of the offences under sections 120B and 420 of the IPC, and under Section 13(2) read with Section 13(1)(d)(criminal misconduct by public servant) of the Prevention of Corruption Act, 1988.
As per facts of the case, Bajrangboli Cement Company Ltd (BCCL), through its director Subhash Agarwala in collusion with SBI Guwahati branch manager Montosh Chandra Das, had procured a term loan of Rs 50 lakh without proper documents, statutory permission, etc., for a cement factory to be commissioned in Guwahati. But the loan amount was fraudulently utilised in constructing a building on the same mortgaged land and the flats were sold in favour of third parties. The cement factory was not even started.
Following an investigation by the CBI, a chargesheet was filed and accordingly on conclusion of trial in the Court of the Special Judge CBI on June 29, both the accused were convicted.