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Embezzlement of funds

Three former Punwire officials get two-year RI

Rs7,000 fine imposed on each

Tribune News Service

Mohali, November 29

The Special Judicial Magistrate, CBI, Mohali, today sentenced the then executive director and two other former officials of Punwire to two-year rigorous imprisonment (RI).

The special court also imposed a fine of Rs7,000 each on Ved Prakash, former executive director, Ashok Jerath, former AGM, and NK Bhambri, former statutory auditor, of Punwire.

The CBI had registered the case on October 10, 2002 on the directions of the Supreme Court on the allegations of large-scale embezzlement of funds in Punwire.

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