Follow Us:

CBI Court Fines Mumbai Businessman Rs 10.2 Crore In Forgery Case

 special CBI court
New Delhi: A special CBI court has sentenced a businessman to six years of rigorous imprisonment and fined him Rs 10.2 crore in a 2003 case related to customs duty fraud by submitting forged export documents.
Apart from businessman Krishan Kumar Kacharulal Gupta (62), the court sentenced another main beneficiary in the crime Sudhir Brihaspati Mandal of Vijay Trading Co to undergo three years RI with a fine of Rs 3 lakh.
Former Bank of India officials -- Vasant M. Parkhe and Sunil Bhujangrao Jadhav were also awarded one year RI with a fine of Rs one lakh, the probe agency said in a statement on Thursday.
According to the CBI, Gupta and Mandal along with customs and bank officials entered into a criminal conspiracy, stating that their objective was to cheat the union government by dishonestly claiming customs duty drawback from the customs department by submitting forged export documents. The accused used 11 fictitious firms to prepare false export documents in their names and 26 Customs Duty Drawback cheques of more than Rs 2 crore was obtained. These cheques were drawn on RBI, Mumbai, and issued by Customs Department in the names of said fictitious firms and were deposited in Bank of India, Cotton Exchange Branch, Mumbai in the account of M/s Vijay Trading Co. The said duty drawback amount was fraudulently obtained by the accused persons. (Contd On Pg 2)