Gujarat: CBI court sentences 5 accused to 3 years in jail in Central Excise fraud case

A special CBI court in Gujarat has sentenced five people to three years in jail, along with imposing a fine of Rs 2 lakh on each accused, in connection with a Central Excise fraud case.

A special CBI court in Gujarat’s Ahmedabad has sentenced five people to three years in jail in a case of cheating the Central Excise to the tune of Rs 12.85 crore. The court also imposed a fine of Rs 2 lakh on each accused, along with imposing a fine of Rs 5 lakh on accused firm, M/s Rama News Prints & Papers Ltd, Mumbai. The special court convicted Vashu J Ramsigani, chairman and managing director of Rama News Print & Papers Ltd, senior vice president of the company Chhotu U Murgtani, deputy manager Rachna M Gwalani, and assistants Rajesh M Pherwani, Ram Charan R Bharaddwaj, a CBI release said.