Satbir Singh Kadian, former Speaker of the Haryana Legislative Assembly in the INLD government, was today awarded 7-yr imprisonment and Rs. 50 lakh fine by a special CBI court in a graft case. The court also awarded seven-year jail term to 64-year-old Vinayak Narayan Deosthali, ex-Assistant Manager (Funds) of UCO Bank, 65-year-old IIT alumni Anil Kumar Malhotra and 70-year- old Sunil Gorawara, ex-Senior Manager (Deposits) of UCO Bank.
The court also sentenced 84-year-old Karuna Pati Pandey, ex-Senior Manager(Cash) of UCO Bank, to two-years imprisonment considering his old age. Kadiyan was among six people held guilty in a 1993 interest rate scam on Saturday. Former MLA was earlier arrested and sent to the Tihar Jail on the order of the special CBI court in Karkardooma, Delhi.
The other convicts in the case include Harshad Shantilal Mehta who is considered as the kingpin of the scam.
After four years of conviction of INLD chief Om Prakash Chautala and his son Ajay Singh Chautala along with other accused in the JBT scam, this incident has come as a big shock for INLD in the state.
Kadiyan was appointed as the chairman of Indian Farmers Fertiliser Cooperative Limited (IFFCO) by then Deputy Prime Minster Devi Lal in December, 1989 for three years. The scam was unearthed one year after his tenure ended in the year 1993.