Two get two years in jail for giving fake bank guarantee to HC
October, 01st 2011
Mumbai, Sep 30 (PTI) The special CBI court today convicted two persons for giving a forged bank guarantee to the Bombay High Court eighteen years ago. According to CBI, in 1984, the Customs had detained the consignment of Mahesh Bayani, owner of Narmada Nylons, who had imported it from USA, but had not paid the duty. Bayani filed writ petition in the Bombay High court, seeking release of the goods. High Court passed an interim order asking Customs to release it, but also directed Bayani to give a bank guarantee of Rs 12,43,000. Bayani then produced a guarantee of Punjab and Sind Bank.
Eventually, in 1992, High Court passed the order in favour of Customs and directed Bayani to pay the duty. When the Customs asked the bank to honour the bank guarantee, it was found that it was a forgery. In 1994, CBI registered a case against Bayani and the Punjab and Sind Bank's branch manager Sardar Manjit Singh for forgery, criminal conspiracy and cheating. Special CBI prosecutor A A Ansari had sought a stringent punishment for the accused, saying that it would act as a deterrent in future. Special judge R R Deshmukh today convicted Bayani and Singh and sentenced both to two years' rigorous imprisonment.PTI VI KRK