In a significant ruling, a CBI court in Ahmedabad sentenced Medam Bhagavathi Prasad (former senior manager), Bhaskar Rameshchandra Soni (former assistant manager), and Jagruti Nimish Parikh (businessman) to three years’ rigorous imprisonment for their roles in a loan fraud case involving ₹643 lakh (approximately $770,000 USD). The fraud was perpetrated by sanctioning loans based on fake documents submitted by 17 different borrowers. As of December 2015, the total outstanding loans in these accounts reached ₹363 lakh (approximately $440,000 USD), with most accounts classified as Non-Performing Assets (NPAs), leading to substantial losses for UCO Bank. The CBI initiated the investigation on April 27, 2016, and after thorough inquiry, filed a chargesheet on November 17, 2017. The trial progressed with the Special Judge directing additional chargesheets, which were filed on June 10, 2022.