Shimla:

The Special Judge for CBI cases, Mumbai has sentenced Ramchandra Shridhar Joshi, then Chief Manager, Bank of Baroda, Walkeshwar Road Branch, Mumbai in two separate cases to rigorous imprisonment of two years and one year respectively along with a combined fine of Rs. 4,37,500/-  yesterday for causing  wrongful loss to the Bank.

According to official sources, in the first case, the Special Judge sentenced convict Ramchandra Shridhar Joshi  to rigorous imprisonment of two years  with  fine of  Rs 3,00,000. The CBI had registered the instant case against the convict on May 12, 1994. It was alleged that the accused entered into a criminal conspiracy with private person to cheat Bank of Baroda by misappropriating  various amounts totaling Rs.10.50 crore (approx) and diverted the said amounts to the accounts of accused private person  by fraudulent means. Thus, a wrongful loss was caused to the Bank.

“After investigation, chargesheet was filed on December 27, 1996 against two accused including the said then Chief Manager and a private person. The Court found the said accused guilty and accordingly sentenced him after trial.  The case against another chargesheeted accused (private person) was abated due to his death during trial” the source said.

“In the second case, the Special Judge for CBI cases, Mumbai sentenced convict Ramchandra Shridhar Joshi to undergo  rigorous imprisonment of one year with fine Rs.1,37,500. The CBI had registered the case against Ramchandra and others. It was alleged that the accused entered into a conspiracy with other private persons to cheat Bank of Baroda, Walkeshwar Road Branch, Mumbai and misappropriated an amount of Rs. 5 crore (approx) by diverting the said amount to the account of a private person through fraudulent means causing a wrongful loss to the Bank” the officer said.

“After investigation, chargesheet was filed on December 24, 1996 against four accused including Ramchandra Shridhar Joshi. The Court found said accused guilty and accordingly sentenced him, after the trail. The case against two chargesheeted accused was abated due to their death during trial while another accused was discharged” he remarked.