**Executive Summary**
On July 6, 2026, the CBI Court in Pune convicted and sentenced two private proprietors, Chandrakant Lodha and Paresh Thakkar, to three years of Rigorous Imprisonment for a bank fraud case involving Rs. 5.58 crore. The case, originally registered in 2001 against the proprietors and two bank officials, concluded with the sentencing of the private individuals and the acquittal of the bank staff. This judgment follows a long-term legal process including a jurisdictional transfer of the case in 2025 and a detailed trial.
**Key Points / Main Content**
**Judicial Verdict and Sentencing**
* The CBI Court sentenced Chandrakant Lodha (Proprietor of M/s Chandrakant S. Lodha & Co.) and Paresh Thakkar (Proprietor of M/s Thakkar and Sons) to three years of Rigorous Imprisonment.
* The court acquitted former State Bank of Hyderabad officials B.R. Dagde (Branch Manager) and V.L. Kale (Assistant Manager) due to insufficient evidence of intentional involvement.
**Details of the Fraudulent Scheme**
* The fraud resulted in a wrongful loss of Rs. 5.58 crore to the State Bank of Hyderabad.
* Chandrakant Lodha deposited 18 "accommodative" cheques totaling Rs. 6.75 crore issued by Paresh Thakkar from an account at Nashik People's Cooperative Bank.
* The bank officials authorized withdrawals for Lodha before the fate of the deposited cheques was determined.
* Funds were withdrawn in the name of Lodha and his associate concerns, M/s A.C. Enterprises and M/s Akshay Traders.
**Case Timeline and Procedural History**
* The CBI registered the case on October 9, 2001, following a complaint by the State Bank of Hyderabad.
* A chargesheet was filed against the four accused individuals on August 28, 2003.
* In 2025, the case was transferred from the Nashik Court to the Pune Court following the reorganization of CBI court jurisdictions in Maharashtra.
**Impact Analysis**
**Convicted Private Proprietors (Chandrakant Lodha and Paresh Thakkar)**
**Impact**
They have been found guilty of participating in a fraudulent scheme and face three years of Rigorous Imprisonment.
**Action Required**
They must serve the sentences mandated by the CBI Court, Pune.
**Former Bank Officials (B.R. Dagde and V.L. Kale)**
**Impact**
They have been acquitted of all charges related to the fraud.
**Action Required**
No further legal action is required as the court found no evidence of intentional involvement.
**State Bank of Hyderabad**
**Impact**
The institution suffered a confirmed wrongful financial loss of Rs. 5.58 crore due to the unauthorized withdrawal of funds.
**Action Required**
The document does not specify further action, but the legal proceedings regarding their initial 2001 complaint have reached a conclusion.
**Central Bureau of Investigation (CBI)**
**Impact**
The successful conviction reinforces the agency's role in prosecuting financial crimes and safeguarding the public exchequer.
**Action Required**
The agency has completed the prosecution of the chargesheet filed in 2003.
Key Entities Referenced
Central Bureau of Investigation (CBI): The primary investigative agency that registered the case, conducted the probe, and prosecuted the bank fraud.
CBI Court, Pune: The judicial body responsible for the trial, conviction, and sentencing of the accused individuals in this case.
State Bank of Hyderabad: The banking institution that filed the original complaint and suffered a wrongful financial loss of Rs. 5.58 crore.
Chandrakant Lodha: Proprietor of M/s Chandrakant S. Lodha & Co., convicted and sentenced to three years of rigorous imprisonment for bank fraud.
Paresh Thakkar: Proprietor of M/s Thakkar and Sons, convicted for issuing high-value accommodative cheques used to defraud the bank.
Ministry of Personnel, Public Grievances & Pensions
CBI Court Sentences Proprietors of Two Private
Companies to Three Years' RI in Bank Fraud
Case of over Rs. 5.5 Crore
प्रव तथ: 07 JUL 2026 4:16PM by PIB Mumbai
Mumbai, 7 July 2026
The CBI Court, Pune, on 06.07.2026 convicted and sentenced two private persons,
namely, Chandrakant Lodha, Proprietor of M/s Chandrakant S. Lodha & Co., and
Paresh Thakkar, Proprietor of M/s Thakkar and Sons, to Rigorous Imprisonment for
three years in a bank fraud case involving a wrongful loss of Rs. 5.58 crore to the
bank.
The Central Bureau of Investigation (CBI) registered the case on 09.10.2001 against
B.R. Dagde, the then Branch Manager, State Bank of Hyderabad; V.L. Kale, the then
Assistant Manager, State Bank of Hyderabad; Chandrakant Lodha; and Paresh
Thakkar, based on a complaint filed by the State Bank of Hyderabad.
Accused Chandrakant Lodha, being the Proprietor of M/s Chandrakant S. Lodha &
Co., deposited 18 high-value accommodative cheques amounting to Rs. 6.75 crore.
These cheques were issued by accused Paresh Thakkar from his proprietorship
account maintained with the Nashik People's Cooperative Bank.
Subsequently, V.L. Kale, with the approval of B.R. Dagde, authorized withdrawals by
allowing Chandrakant Lodha to issue high-value cheques on his current account
even before the fate of the deposited cheques could be known.
In this manner, Chandrakant Lodha issued cheques in his own name and in the
names of his associate concerns, namely, M/s A.C. Enterprises and M/s Akshay
Traders, causing a wrongful loss of Rs. 5.58 crore to the State Bank of Hyderabad.
Following the probe, the CBI filed a chargesheet on 28.08.2003 against B.R. Dagde,
V.L. Kale, Chandrakant Lodha, and Paresh Thakkar.
In the year 2025, the instant case was transferred from the Nashik Court to the
Pune Court pursuant to the reorganisation of the jurisdiction of CBI courts in the
State of Maharashtra. The Court, after a detailed trial, convicted and sentenced the
two private accused persons accordingly. However, B.R. Dagde and V.L. Kale were
acquitted of all charges, as the Court found insufficient evidence of their intentional
involvement in the fraudulent scheme.
This case demonstrates the CBI's commitment to investigating and prosecuting
financial crimes and bank frauds, thereby safeguarding the interests of banking
institutions and the public exchequer.Source: CBI | PIB Mumbai | Edgar Coelho/ Priti Malandkar
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(रलीज़ आईडी: 2282030) आगंतुक पटल : 44
इस वज्ञ को इन भाषाओ ंम पढ़: Marathi