Panchkula, July 30 -- The court of CBI special judicial magistrate Anil Kumar Yadav has convicted the directors of M/s Shakti Basmati Rice Pvt Ltd, Karnal, in Rs.68.41-crore bank fraud case, sentencing them to imprisonment for 1.5 years to 2.5 years. The court found the firm guilty under Sections 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC) and also directed it to pay a fine of Rs.15,000 under each section, amounting to Rs.30,000.

Registered by the CBI's special task branch, New Delhi, the case stemmed from a complaint filed by Bharat Bhushan Kakkar, then SBI's deputy general manager, in March 2020. Company directors Parveen Kumar and Suresh Kumar, along with Brij Mohan and Saroj Bala, were convicted unde...