Strong Blow Against Bank Fraud: Fugitive Sentenced to Seven Years

New Delhi: In a significant development following an investigation by the Central Bureau of Investigation (CBI) into bank fraud, the Rouse Avenue District Court in Delhi has sentenced Sanjay Sharma, an accused in a bank fraud case, to seven years of rigorous imprisonment. The court also imposed a fine of ₹1.60 lakh. This verdict serves as a stern message, underscoring the consequences of such criminal acts.

According to the Jor Bagh branch of Punjab National Bank, forged and fabricated property allotment documents were allegedly used to secure a loan facility of ₹4 crore. It was alleged that the loan funds were diverted for purposes other than those for which they were sanctioned. A case was registered on July 11, 2013, against Sanjeev Dixit, Sanjay Sharma, Indra Queen, and other unidentified individuals.

During the proceedings, it was noted that one of the accused, Satyanarayan (also known as Sanjay Sharma), had passed away. Following his abscondence, the court declared him a 'proclaimed offender' on November 23, 2017.

In January 2026, authorities received information that the individual was residing in Vadodara, Gujarat, under the alias 'Pankaj Bhardwaj.' The investigation led authorities to the Mata Tripura Sundari Temple in Umrai, located in the Banswara district of Rajasthan. He was subsequently arrested on January 30, 2026.

The investigation revealed that the accused had engaged in sophisticated criminal activities, including the forgery of documents and the creation of fraudulent records to facilitate the bank fraud. Following this, on October 24, 2026, the court sentenced him to seven years of rigorous imprisonment and the 'punishment of the devil.'