Archive · 13 Dec 2025
Four jailed for bank fraud in Ahmedabad
Four people in Ahmedabad were sent to jail for three years each because they tricked a bank into giving them money.
They lied about their finances to get a loan of Rs 3 crore from Bank of Baroda.
They also hid the fact that they already had a loan from another bank, the State Bank of India.
The court found them guilty and fined them Rs 50,000 each.
The police who investigate big crimes, called the CBI, found out what they did and took them to court.
Four individuals were convicted and sentenced to three years in jail each for bank fraud.
They were fined Rs 50,000 each for their involvement in the fraud.
The fraud involved submitting fabricated financial statements to obtain a Rs 3 crore cash credit facility from Bank of Baroda.
The accused concealed an existing credit facility from the State Bank of India while availing the new facility.
The CBI registered the case on September 30, 2008, and filed a charge sheet on December 11, 2009.
- Who
- Manojbhai B. Tanti, Pareshbhai M. Tanti, Poorva Pareshbhai Tanti, Lilavanti M. Tanti (partners of M/s P.M. Marketing)
- What
- Bank fraud involving falsified financial statements to obtain a cash credit facility
- When
- Case registered on September 30, 2008; sentenced on December 12, 2014
- Where
- Ahmedabad, India
- Why
- To fraudulently obtain a cash credit facility of Rs 3 crore from Bank of Baroda by submitting fabricated financial statements and concealing an existing credit facility from State Bank of India
- Convicted Individuals
- Manojbhai B. Tanti, Pareshbhai M. Tanti, Poorva Pareshbhai Tanti, Lilavanti M. Tanti
- Company Involved
- M/s P.M. Marketing, Ahmedabad
- Bank Involved
- Bank of Baroda
- Fraud Amount
- Rs 3 crore
- Sentence
- 3 years rigorous imprisonment each
- Fine
- Rs 50,000 per person
- Case Registration Date
- September 30, 2008
- Charge Sheet Date
- December 11, 2009
- Sentencing Date
- December 12, 2014
