A special CBI court in Jaipur has convicted and sentenced three people, including a former branch manager of Bank of Maharashtra, in a loan fraud case that allegedly caused a financial loss of around ₹3.61 crore to the public sector bank. The court sentenced former Gopalpura Bypass branch manager Ram Bharose Meena to seven years of rigorous imprisonment and imposed a fine of ₹2.60 lakh. Two private individuals, Deep Ram Meena and Veer Singh Meena, were each sentenced to three years of rigorous imprisonment and fined ₹25,000.
According to the CBI, the case relates to alleged financial irregularities at Bank of Maharashtra’s Gopalpura Bypass branch in Jaipur during 2015. The prosecution alleged that then-branch manager Ram Bharose Meena entered into a criminal conspiracy with Deep Ram Meena and Veer Singh Meena and sanctioned loans by bypassing established banking procedures.
The alleged fraud took place between January 15 and May 6, 2015. During this period, loans were reportedly sanctioned in 17 accounts. Investigators alleged that the required procedures were not followed while approving the loans. In several cases, proper loan applications, essential documents and adequate security were allegedly unavailable. Despite these deficiencies, the loans were approved and disbursed.
The CBI alleged that Ram Bharose Meena misused his official position to influence the loan approval process. The two private accused were also alleged to have assisted in the conspiracy and played a role in obtaining loans through irregular means. According to the investigation, manipulation of documents and banking procedures was allegedly used to facilitate the disbursement of loans, resulting in an estimated loss of ₹3.61 crore to the bank.
The case originated from a complaint filed by the Jaipur regional office of Bank of Maharashtra. Based on the complaint, the CBI registered a case on November 9, 2016, and began investigating the alleged irregularities. During the investigation, bank records, documents related to the loan accounts and other evidence were examined.
After completing the investigation, the CBI filed a chargesheet against Ram Bharose Meena, Deep Ram Meena and Veer Singh Meena on March 30, 2019. The judicial proceedings subsequently moved forward, with the special CBI court framing charges against the three accused on December 1, 2021.
The trial then proceeded with the examination of evidence and documents presented by the prosecution. The defence also presented its arguments and contested the allegations. After examining the material placed before it and hearing arguments from both sides, the special CBI court delivered its verdict on Wednesday, August 12, 2026.
The court found all three accused guilty in the loan fraud case. Ram Bharose Meena, the former branch manager, was sentenced to seven years of rigorous imprisonment and fined ₹2.60 lakh. The sentence reflects the seriousness with which the court viewed the alleged misuse of his position in the sanctioning of loans that did not meet the required banking conditions.
Deep Ram Meena and Veer Singh Meena were each sentenced to three years of rigorous imprisonment. The court also imposed a fine of ₹25,000 on each of them.
The case has taken nearly a decade to reach its conclusion, beginning with the alleged irregular loan approvals in 2015, followed by the CBI case in 2016, the filing of the chargesheet in 2019 and framing of charges in 2021. The conviction brings the judicial proceedings to a significant stage in a case involving alleged manipulation of the loan approval process at a public sector bank.
The case also highlights the importance of compliance with banking procedures while sanctioning loans. Proper documentation, verification of borrowers and adequate security are key safeguards against financial irregularities. Allegations of bypassing these safeguards, particularly with the involvement of bank officials, can result in criminal investigation and prosecution when supported by evidence.
The verdict underscores that alleged misuse of an official position and collusion in the sanctioning of irregular loans can carry serious legal consequences when the charges are established during trial. The three convictions followed the examination of evidence and arguments presented before the special CBI court.
