Millennium Post

'Renowned' scholar gets three years for cheating

A Delhi court has sentenced a 61-year-old author and businessman to three years jail term for cheating a bank to get loan and other credit facilities in a two-decade-old corruption case.

The court sentenced K G Sharma to three years jail term along with a fine of Rs 1.75 lakh. The accused has sought leniency on the ground that he was a 'renowned scholar', a 'social scientist' and author of 42 books.

The court had convicted Sharma, an engineer, for conspiring with the then branch manager of erstwhile New Bank of India (now Punjab National Bank) J S Bindra, who expired during the pendency of the case, to get loans without fulfilling required criteria for setting up business and getting bill discounts during the period 1986 and 1989.

The CBI had accused them of causing a loss of Rs 32 lakh to the bank.

The agency had also named Raman Chadha, a businessman, as accused in the case, but the court acquitted him saying the CBI had failed to prove that he committed any criminal offence.

The court, however, said the prosecution has proved its case against Sharma 'beyond reasonable doubts'.

'This court is of the opinion that prosecution has proved its case beyond reasonable doubts against accused K G Sharma for commission of offence under section 120 B (criminal conspiracy), 420 (cheating), 467 (forgery of valuable security) and 471 (using a forged document as genuine) of IPC,' said V K Maheshwari Special Judge.

The court also convicted Sharma under the Prevention of Corruption Act.
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