India News | Former Top PSU Official Sentenced to 3 Years in Jail in 17-year-old Forgery Case

Ahmedabad, Nov 14 (PTI) A special CBI court in Ahmedabad has sentenced a former general manager of Minerals and Metals Trading Corporation Limited to three years of imprisonment for forgery that caused a loss of Rs 32 crore to the public sector enterprise.

In its verdict, which came after a protracted trial, the court also imposed a fine of Rs 1.25 lakh on the convict BS Suryaprakash.

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The court also handed a 2-year jail term with Rs 1 lakh fine to Suresh Gadhecha, the then director of Aaryavart lmpex Pvt. Ltd. (AIPL), Ahmedabad, in the same case, which was registered 17 years ago against the duo.

Suryaprakash and bullion dealer Gadhecha were found guilty of offences, including criminal conspiracy, misappropriation of property, forgery of valuable security and passing it off as genuine documents, the Central Bureau of Investigation (CBI) said in a release.

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The CBI had registered a case against the duo in March 2007 on the allegations that during March and April 2006, Suryaprakash in connivance with Gadhecha had fraudulently issued delivery challans from a ‘non-running' challan book of Metals Trading Corporation Limited.

It was alleged that orders on the letterhead of the public sector undertaking were also issued which enabled the delivery of imported silver by Gadhecha's company without following proper procedures, the release said.

This forgery resulted in a loss of Rs 32.06 crore to the public sector enterprise and corresponding undue gain to Suryaprakash and Gadhecha jointly and severally, the probe agency said.

The CBI had filed the chargesheet in the case in 2009.

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