CBI Court sentences four, Including a Senior Manager of Bank of India, to imprisonment with fine in a Bank Fraud Case

The CBI Court Mumbai, on 18.03.2026, convicted and sentenced Manoj Kumar Mathur, the then Senior Manager, Bank of India, Nariman Point branch; Harit Mehta, proprietor of Infinite Transmission; Abhay Mehta, Director of the firm, and Ilesh Shah in a bank fraud case.

The accused Manoj kumar Mathur and Ilesh Shah have been sentenced to Imprisonment for Three Years’ with fine of Rs. 50,000 each; Harit Mehta has been sentenced to Imprisonment for Five Years’ with a Fine of Rs. 3.50 Crore and Abhay Mehta has been sentenced to Rigorous Imprisonment for five Years with a fine of Rs. One Crore.

The Central Bureau of Investigation (CBI) registered the instant case on 09.09.2010 against 07 accused persons. It was alleged that during 2007-09, the accused persons in criminal conspiracy, fraudulently availed Letter of Credit (LC) facilities amounting to Rs. 3.55 Crore. The LC was purportedly issued by HDFC bank, Lower Parel Branch, Mumbai in favour of M/s Infinite Transmission. The accused Manoj Kumar Mathur, the then Senior Manager, Bank of India, Nariman Point branch, in conspiracy with other accused persons, dishonestly discounted the forged LC and some of the amount was adjusted against previous LCs and the remaining amount was siphoned off by the accused persons.

Investigations revealed that the Letter of Credit was forged and had never been issued by HDFC Bank, leading to substantial financial loss to the bank. The accused routed the fraudulently obtained funds through multiple accounts to conceal the money trail. A portion of the amount was used to settle earlier financial liabilities, while the remaining funds were siphoned off to various individuals and entities.

After completion of investigation, CBI filed chargesaheet 18.06.2012 against 17 accused persons & firms.

The Hon’ble Court, after the trial, convicted and sentenced the accused accordingly.

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