Bank fraud: Mandi Gobindgarh businessman jailed in Mohali.

Mohali: A Special CBI Court in Mohali has sentenced Mandi Gobindgarh businessman Sameer Dua to three years of rigorous imprisonment and imposed a 15,000 rupee fine for his role in a 4 crore rupee bank fraud case.

The case involves GD Ispat Udyog, a firm that entered into a criminal conspiracy to fraudulently secure a 4 crore rupee cash credit limit from the Indian Overseas Bank's Mandi Gobindgarh branch. The syndicate obtained the credit facility by submitting forged and misleading financial documents, causing substantial losses to the public sector lender.

The central investigation began in 2018 following a formal written complaint lodged by the bank's Chief Regional Manager in Ludhiana. Subsequent CBI raids at Dua's residential premises in Khanna and business offices in Mandi Gobindgarh yielded incriminating documents that established the forgery.

Dua’s father and business partner, co-accused Dalip Kumar Dua, passed away during the course of the legal proceedings, causing the case against him to abate. The special court found Sameer Dua solely guilty of executing the fraudulent loan scheme upon the conclusion of the trial.