**Summary of CBI Court Sentencing in Bank Fraud Case**
On May 11, 2026, the CBI Court in Kolhapur, Maharashtra, sentenced Yasin K. Shaikh, a private individual, to three years of Rigorous Imprisonment (RI) and a fine of Rs. 14,000 for his involvement in a bank fraud case.
**Case Background and Details**
The Central Bureau of Investigation (CBI) registered the case on December 29, 2011, following a complaint from Canara Bank. The investigation revealed that the accused, in conspiracy with bank officials, fraudulently obtained a ‘canmobile’ loan amounting to Rs. 5 lakhs. The loan was intended for the purchase of a Hyundai car that the accused already owned. This was achieved through the submission of forged documents and the suppression of facts regarding a previous loan sanctioned for the same vehicle.
**Legal Findings**
The court found that the loan was sanctioned twice for the same vehicle, which exceeded the delegated financial powers of the involved public servants and constituted a gross violation of established bank guidelines. Following the trial, the court convicted the accused on all charges.
**Contact and Source Information**
* **Source:** Central Bureau of Investigation (CBI)
* **Release ID:** 2259965
* **Media Contacts:** Sriyanka Chartterjee / Priti Malandkar (PIB Mumbai)
* **Social Media/Contact Channels:**
* **X (Twitter):** @PIBMumbai
* **Facebook:** /PIBMumbai
* **Instagram:** /pibmumbai
* **Email:** pibmumbai[at]gmail[dot]com
Key Entities Referenced
Canara Bank: The financial institution and complainant that suffered losses due to the fraudulent 'canmobile' loan sanctions.
Central Bureau of Investigation (CBI): The primary investigative agency that registered the case and investigated the fraudulent loan activities.
CBI Court, Kolhapur, Maharashtra: The judicial authority that tried the case and sentenced the accused to three years of rigorous imprisonment.
Yasin K Shaikh: The private individual convicted of conspiracy and using forged documents to obtain multiple loans for the same vehicle.
Ministry of Personnel, Public Grievances & Pensions
CBI Court Sentences Accused to Three Years RI
in Bank Fraud Case
Posted On: 11 MAY 2026 6:38PM by PIB Mumbai
Mumbai/New Delhi, 11 May 2026
The CBI Court, Kolhapur, Maharashtra, today, i.e., 11.05.2026, has sentenced the
accused Yasin K Shaikh (Private Person), to Rigorous Imprisonment (RI) for Three
Years with a Fine of Rs. 14,000 in a bank fraud case.The Central Bureau of
Investigation (CBI) registered the instant case on 29.12.2011 based on a complaint
from Canara Bank. It was alleged that the accused Yasin Shaikh, in conspiracy with
bank officers, availed fraudulent ‘canmobile’ loan of Rs. 5 lakhs towards purchase of
Hyundai car which was already owned by the accused, by presenting false and
forged documents and by suppression of the fact regarding the previous sanction of
a loan for purchase of the same vehicle, already owned by the borrower. In brief,
the accused was sanctioned loan for the purchase of his own vehicle, that too twice,
which was beyond the delegated financial powers of the public servants and in gross
violation of bank guidelines. The Court, after the trial, convicted and sentenced the
accused accordingly.
Source: CBI
PIB Mumbai | Sriyanka Chartterjee/ Priti Malandkar
Follow us on social media: @PIBMumbai /PIBMumbai /pibmumbai pibmumbai[at]gmail[dot]co
m
(Release ID: 2259965) Visitor Counter : 30