A special CBI court on Thursday sentenced three partners of M/s Amruta Agencies to two years rigorous imprisonment and fined Rs 7,000 each for duping the Central Bank of India to the tune of Rs 1.3 crore in 2000.

However, the court acquitted a branch manager of the bank and a financial officer of the agency. Special judge D R Mahajan convicted and sentenced Mukund Chandrakant Ajabe, Girish Rajaram Kulkarni and Rajendra Vasant Bodhani, for offences under various sections of the IPC.

According to the CBI counsel Ayub Pathan, “In June 2000, the convicts had applied for a loan of Rs 2.5 crore from the bank’s Tilak Road branch for business purpose by submitting bogus documents. The bank sanctioned a Rs 1.3 crore loan in July, 2000. However during the disbursement process, the terms and conditions were violated causing huge loss to the bank.”