CBI Court sentences two companies, six individuals in Rs 152 crore Canara Bank fraud case
The CBI had registered the case on July 14, 2020, following a complaint from Canara Bank's Circle Office in Karnal, Haryana. It was alleged that the accused, acting in criminal conspiracy, dishonestly and fraudulently obtained credit limits and loans amounting to Rs 152 crore and siphoned off the funds for purposes other than those for which the loans were sanctioned.
ANI
Jan 15, 2026 22:54 IST
New Delhi [India], January 15 (ANI): A CBI Court in Panchkula has convicted and sentenced two private companies and six individuals in connection with bank fraud cases involving a total amount of Rs 152 crore.
According to the CBI, the special court, through its order dated January 13, sentenced M/s SRS Real Infrastructure Ltd. and M/s SRS Real Estate Ltd., along with six private individuals, Rajesh Singla, Anil Jindal, Bishan Bansal, Nanak Chand Tayal, Seema Narang and Dheeraj Gupta, for their role in cheating Canara Bank.
The court imposed a fine of Rs 50,000 each on the two convicted companies. Among the individuals, Rajesh Singla and Anil Jindal were sentenced to rigorous imprisonment (RI) for five years along with a fine of Rs 1.2 lakh each. Bishan Bansal and Nanak Chand Tayal were also awarded five years of rigorous imprisonment with a fine of Rs 80,000 each. Seema Narang and Dheeraj Gupta were sentenced to rigorous imprisonment for four years with a fine of Rs 40,000 each.
The CBI had registered the case on July 14, 2020, following a complaint from Canara Bank's Circle Office in Karnal, Haryana. It was alleged that the accused, acting in criminal conspiracy, dishonestly and fraudulently obtained credit limits and loans amounting to Rs 152 crore and siphoned off the funds for purposes other than those for which the loans were sanctioned.
Investigation revealed that M/s SRS Real Infrastructure Ltd caused a wrongful loss of Rs 41.95 crore to Canara Bank by fraudulently obtaining a credit limit of Rs 42 crore, while M/s SRS Real Estate Ltd caused a loss of Rs 93.20 crore by securing a credit limit of Rs 110 crore. The funds were allegedly diverted through dummy companies without any genuine underlying business activity.
After completing the investigation, the CBI filed two charge sheets against the accused, including the two companies, on December 31, 2022. The court convicted the accused on December 22, 2025, and pronounced the sentence on January 13, 2026. (ANI)
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