Jaipur. A special CBI court in Jaipur has sentenced former Special Assistant of Oriental Bank of Commerce, Murari Lal Meena, to seven years of rigorous imprisonment in a loan fraud case involving the alleged misuse of his official position. The court also imposed a fine of ₹4,30,000 on him. The case relates to a financial loss of ₹83,69,495 caused to the bank.
The court delivered its verdict on September 1, 2026. The case pertains to alleged irregularities committed by Meena while he was posted at the Oriental Bank of Commerce branch in Lalsot, Dausa district, Rajasthan. According to the investigation, Meena misused his official position to issue unauthorized ‘No Dues’ certificates in cases where loan liabilities had not been fully cleared.
Mortgaged Securities Released Despite Outstanding Loans
According to the investigating agency, the unauthorized certificates enabled the release of securities mortgaged with the bank even though outstanding liabilities remained in the corresponding loan accounts. The alleged malpractice affected 25 loan accounts and caused financial loss to the institution.
A ‘No Dues’ certificate generally confirms that there are no outstanding liabilities against a particular loan account. Such a certificate can facilitate the release of mortgaged property or related securities and documents. In this case, however, the investigation alleged that the process was carried out despite the required liabilities remaining unpaid.
During the investigation, the CBI examined Meena’s role and the relevant bank records. The agency found that his official position was allegedly used to bypass established banking procedures, resulting in financial loss to the institution.
CBI Probe Began After Bank Complaint
The matter came to light following a formal complaint from the bank branch. Based on the complaint, the CBI began its investigation on December 20, 2017. After completing the investigation, the agency filed a charge sheet against Murari Lal Meena on August 28, 2019.
The court framed charges in the case on January 23, 2024. The trial subsequently proceeded, with the court examining the arguments and evidence presented before it. After the conclusion of the trial, the court found Meena guilty on all counts and sentenced him to seven years of rigorous imprisonment along with a ₹4.30 lakh fine.
Case Involved 25 Loan Accounts
According to the findings cited during the CBI investigation, the issuance of unauthorized ‘No Dues’ certificates affected 25 loan accounts. Although liabilities remained outstanding in these accounts, action was taken to release the mortgaged securities.
The case highlights the importance of internal controls and document verification within banking institutions. The release of mortgaged securities without confirming that the associated loan liabilities have been cleared can expose financial institutions to significant losses.
The investigation also focused on whether established procedures were deliberately bypassed and how the unauthorized certificates facilitated the release of securities. The financial loss of ₹83,69,495 formed a key part of the case against the former bank official.
The court’s verdict brings the long-running case to a significant stage after nearly nine years of investigation and trial. The proceedings began with the CBI inquiry in 2017, followed by the filing of the charge sheet in 2019 and framing of charges in 2024. The conviction and sentence were delivered after the completion of the trial.
The case serves as a reminder that misuse of an official position to bypass prescribed banking procedures can lead to serious criminal and financial consequences. The seven-year sentence and monetary penalty imposed on Meena follow the court’s finding that he was responsible for the offences established during the trial.
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About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
