New Delhi, Aug 28 : A special CBI court in Patna on Thursday convicted and sentenced two individuals in a bank fraud case dating back to 1991, bringing closure to a case that spanned over three decades.

The court sentenced Rana Ashok Kumar Singh alias Dina Singh, a private individual, to three years of rigorous imprisonment (RI) along with a fine of Rs 7 lakh. Another accused, Anil Kumar Srivastava, was sentenced to one and a half years' RI and fined Rs 17,500.

The case was registered by the Central Bureau of Investigation (CBI) on February 7, 1996, following a complaint by the Manager of Allahabad Bank, Exhibition Road Branch, Patna. Investigators alleged that Singh, in collusion with others, fraudulently obtained a loan of Rs 2.6 lakh from the bank by pledging forged National Savings Certificates (NSCs) worth Rs 3.59 lakh.

The probe revealed that Singh, with the help of associates, fabricated fake NSCs using a printing machine seized from his residence. The forged certificates were used to secure the loan with the alleged connivance of then-branch manager Shashi Bhushan Pandey.

Following investigations, the CBI filed a charge sheet on April 30, 1998, naming five accused ' Singh, Srivastava, Ganga Sagar (private person), Pandey (Branch Manager, Allahabad Bank), and Bindeshwari Singh (Bank Officer).

During the trial, the court acquitted Ganga Sagar and Bindeshwari Singh, ruling they were not part of the conspiracy and had not defrauded the bank.

The proceedings against Shashi Bhushan Pandey abated as he passed away during the course of the trial.

The judgment underscores the persistence of the CBI in pursuing long-pending financial frauds.

The court held the two convicted individuals guilty of criminal conspiracy and cheating, noting the deliberate fabrication of government-backed securities to defraud a nationalised bank.

The sentencing ends a prolonged case that highlights both the complexity and the long-drawn nature of banking fraud trials in India.

/IANS