CBI Court Sentences Real Estate Firm Officials In Rs 152 Crore Bank Fraud Case

A Special CBI court in Haryana has sentenced four officials of two real estate companies to varying jail terms ranging from four to five years, along with monetary penalties, in a bank loan fraud and fund diversion case involving Rs 152 crore, an official said.

According to a CBI statement, Bishan Bansal and Nanak Chand Tayal, both associated with SRS Real Infrastructure Ltd and SRS Real Estate, received Rigorous Imprisonment (RI) for five years each along with a fine of Rs 80,000 apiece.

The court delivered the sentencing order on January 13.

In addition, the court sentenced Seema Narang and Dheeraj Gupta to Rigorous Imprisonment (RI) for four years each and imposed a fine of Rs 40,000 on each of them.

The court also fined the two accused companies—SRS Real Infrastructure Ltd and SRS Real Estate Ltd—Rs 50,000 each.

Additionally, it sentenced private individuals Rajesh Singla and Anil Jindal to Rigorous Imprisonment (RI) for five years each and imposed a fine of Rs 1.2 lakh on each of them.

The convictions followed the conclusion of a detailed trial in the case, which pertained to fraudulent loan transactions and diversion of funds obtained from Canara Bank.

CBI Probe and Allegations

The Central Bureau of Investigation (CBI) registered the case on July 14, 2020, following a complaint filed by Canara Bank’s Circle Office in Karnal, Haryana.

It was alleged that the accused, acting in conspiracy, cheated the complainant bank by fraudulently obtaining credit limits and loans amounting to Rs 152 crore and siphoning off the funds for purposes other than those for which the loans were sanctioned.

The investigation established that SRS Real Infrastructure Ltd and SRS Real Estate Ltd, through their respective co-accused directors, caused wrongful losses of Rs 41.95 crore and Rs 93.20 crore, respectively, to Canara Bank.

The accused fraudulently availed credit limits of Rs 42 crore and Rs 110 crore and diverted the loan amounts through dummy companies without any genuine underlying business activity.

After completing the investigation, the CBI filed two charge sheets on December 31, 2022, against the accused, including the two companies.

The court convicted the accused on December 22, 2025, and pronounced the sentences on January 13, 2026.

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