New Delhi, Feb 19: A CBI special court in Mumbai has convicted Sanjiv Ramesh Sharma, then proprietor of a private firm and sentenced him to undergo four years rigorous imprisonment for causing an alleged loss of Rs.1.02 crore to Handicraft and Handloom Export Corporation of India Ltd. (HHEC).
The court also slapped a fine of Rs 12 lakh on Sharma, the proprietor of Surbhi Enterprises.
The CBI had registered the case on the complaint of HHEC, New Delhi against Sanjiv Ramesh Sharma, the then MD of Dubai based firm and then Incharge, Handicraft and Handloom Export Corporation of India Ltd, Mumbai on the allegations that the public servant released payment to Sharma for purchase of shoes and shipping the goods to Dubai, without observing the laid down procedures, thereby causing a loss of Rs.1.02 Crore (approx) to HHEC.
It was further alleged that payment released by HHEC had been fraudulently misused by Sharma.
After thorough investigation, CBI filed a charge sheet against Sharma and then Incharge,(Dy.Marketing Manager), Handicraft and Handloom Export Corporation of India Ltd, Mumbai U/Sec.120-B r/w 420, 471 IPC and Sec. 13(2) r/w 13(1)(d) on 31.03.2006.
The trial court found Sharma guilty and acquitted then Incharge (Dy.Marketing Manager), Handicraft and Handloom Export Corporation of India Ltd, Mumbai. (ANI)