CBI Captures Fugitive Mani M. Shekhar After Two Decades in ₹8 Crore Bank Fraud Case

CBI's Long-Awaited Arrest of Mani M. Shekhar

The Central Bureau of Investigation (CBI) has successfully apprehended Mani M. Shekhar, a long-sought declared criminal, in connection with an ₹8 crore bank fraud case, nearly two decades after the crime occurred. This arrest was made possible through advanced image search and comparative tools that helped trace his digital footprints and establish his current identity. The case dates back to August 1, 2006, when the CBI filed a First Information Report (FIR) against several accused, including Ramanujam Muthuramalingam Shekhar, the Managing Director of Indo Marks Private Limited, and his wife, Mani M. Shekhar, who served as a director at Indo Marks and BTC Home Products Private Limited.

Details of the Fraud Scheme

Between 2002 and 2005, both individuals allegedly conspired to defraud the State Bank of India, Overseas Branch in Bengaluru, out of ₹8 crore. They were accused of misusing non-fund-based credit limits under the names of Indo Marks and its affiliated companies. Following an investigation, the CBI filed a charge sheet on December 10, 2007. However, the main accused failed to respond to court summons or warrants, leading to their declaration as proclaimed offenders by the court on February 27, 2009.

Challenges in Locating the Accused

Despite ongoing efforts over the years, the whereabouts of the accused remained unknown. The CBI even announced a reward of ₹50,000 for any information that could assist in their capture. While other co-accused faced trials and were either convicted or acquitted, the proceedings against these two had stalled due to their prolonged absence.