CHANDIGARH: A Central Bureau of Investigation (CBI) special court in Punjab convicted and sentenced seven persons in the Rs 7.83 crore Bank of Baroda fraud case, the investigating agency said on Saturday.
The SAS Nagar court handed a three-year rigorous imprisonment along with a fine of Rs 35, 000 each to the accused, identified as Manish Jain and Ramesh Kumar Jain, who were partners of Manish Traders.
The accused, in collusion with a few bank officials, managed to siphon off funds, causing a substantial loss of Rs 7.83 crore to the public sector bank, the CBI said.