Former Union Bank manager gets 4-year jail term in Rs 40 lakh loan fraud case
Ghaziabad: A Special CBI Court here on Friday convicted and sentenced the then Union Bank of India’s Noida Branch Manager to over four years’ imprisonment, along with a fine of Rs 30,000 in a Rs 40 lakh loan fraud case.
Branch Manager Manoj Srivastava was accused of sanctioning a Rs 40 lakh bank loan to an applicant based on forged documents, a CBI official said.
A case was registered by the Central Bureau of Investigation (CBI) on December 14, 2010.
During May 2007 to June 2009, Srivastava abused his official position as a public servant, entered into criminal conspiracy with Kaushal Kishore Sharma, Proprietor of Surendra Electricals, and Surendra Kumar Shukla, a private person, and sanctioned Rs 40 lakh on November 15, 2008, based on fake and forged documents, causing wrongful loss to the lender Bank.
The CBI filed a charge sheet on September 29, 2012, against Srivastava, Sharma and Shukla. Charges were framed by the Special Court on August 9, 2019, against Manoj Srivastava.
Srivastava filed an application for permission to Plead Guilty on August 22, 2025, and the court accepted the plea and sentenced him accordingly on Friday.
In a separate case, a Special CBI court sentenced a loan applicant to over three years’ imprisonment in a bank fraud case involving Rs 1.17 crore, an official said.
The Special Court convicted and sentenced Kapil Kumar to undergo imprisonment of three years, seven months and 10 days, along with a fine of Rs 50,000.
The case was registered by the Central Bureau of Investigation (CBI) on September 13, 2017, accusing Kapil Kumar of criminal conspiracy with the co-accused in applying for a loan without complete documents and getting a loan of Rs 99 lakh sanctioned in his name and his wife, co-accused Manisha Devi.
The two had taken the loan for purchasing a plot on the basis of forged documents, withdrawing Rs 96 lakh from the account and misusing the loan amount against the terms of the loan.
Thereby, in connivance with other accused, the accused Kapil Kumar defrauded Canara Bank (erstwhile Syndicate Bank), Ghaziabad, and caused wrongful loss to the tune of Rs 1.17 crore to the bank, the CBI said.
The CBI filed the chargesheet in the case on December 23, 2021, against Kapil Kumar and other public and private persons.
Charges were framed by the court on July 18, 2025, against Kapil Kumar. The accused Kapil Kumar filed an application to plead guilty on November 12 in the court, accepting his guilt.
The Special Judge on Friday accepted the application to “plead guilty” and convicted Kapil Kumar and sentenced him accordingly.