THE Special Judge for Central Bureau of Investigation (CBI) Cases, Bangalore, has convicted K. Ramamurthy, former Chief Manager, Union Bank of India, Gandhinagar Branch, Bangalore, L R Bhojwani, then Chairman and Sanjay L Bhojwani, then Director, both of M/s Bhojwani Hotels Private Limited, M.G. Road, Pune and their firms M/s Bhojwani Hotels Private Limited, Pune and M/s Bhojwani Brothers Consultancy and Services Private Limited, Pune. The Court sentenced K. Ramamurthy, former Chief Manager to undergo three years Rigorous Imprisonment with fine of Rs. 1.25 Lakh, L R Bhojwani, then Chairman and Sanjay L. Bhojwani both to undergo three years Rigorous Imprisonment with fine of Rs.1.50 Lakh each and imposed a fine of Rs. 1.50 Lakh each to their two firms.
According to CBI press note, a case was registered by CBI on December 31, 2001 against K.Ramamurthy, formerly Chief Manager, Union Bank of India, Gandhinagar Branch, Bangalore and 9-others on a complaint from Union Bank of India, Central Office, Mumbai. The investigation revealed that the then Chief Manager and then Chairman and then Director, both of said firm hatched a conspiracy between 1996 and 2000 at Pune & Bangalore, and cheated the Union Bank of India, Gandhinagar Branch, Bangalore, in the matter of sanctioning and disbursing/availing huge credit facilities in the name of M/s Bhojwani Hotels Pvt Ltd by submitting false and forged deeds of Powers of Attorney/Letters of Authority etc. A loss of Rs. 9.57 Crores (Approx) was caused to Union Bank of India.
After completion of investigation, a charge sheet was filed before the Special Judge for CBI Cases, Bangalore, on December 27, 2003 against K.Ramamurthy, L.R.Bhojwani, Sanjay L.Bhojwani, Director, both of M/s.Bhojwani Hotels Pvt Ltd., Pune; M/s.Bhojwani Hotels Pvt Ltd, Pune and M/s. Bhojwani Brothers Consultancy and Services Pvt Ltd, Pune, under sections 120-B r/w.409, 420, 467, 468, 471 IPC and Sec.13(2) r/w.13(1)(d) of PC Act and substantive offences thereof. The Trial Court found the accused persons guilty and convicted them.