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Delhi Court Jails Congress MLA in 28-Year Bank Scam: Forged FDs, High Interest, and a Trustee's Betrayal
In a stunning verdict from Delhi's , Special Judge DIG Vinay Singh has convicted Madhya Pradesh Congress MLA Rajendra Bharti and former bank accountant Raghuvir Sharan Prajapati in a decades-old fraud case against . The duo faces charges under . Both were remanded to in Tihar Jail, with sentencing arguments set for , 2026. Bharti, a three-time MLA from Datia who recently ousted BJP heavyweight Narottam Mishra, risks losing his legislative seat if sentenced to two or more years.
The Fixed Deposit That Wouldn't Mature: A Timeline of Deception
The saga began on , when Bharti's mother, Savitri Devi Shyam —then president of the trust, where Bharti was a trustee—deposited ₹10 lakh in a three-year fixed deposit (FD) at the Datia cooperative bank. Interest rate? A lucrative 13.5% per annum.
Bharti, serving as bank chairman from , allegedly exploited his position. Prosecutors claim documents like FD receipts (Ext. P5-7, P11), ledger entries, and counterfoils were tampered with using correction fluid to extend the tenure first to 10 years, then 15. This allowed the trust to withdraw ₹1.35 lakh annually in interest until —eight years beyond the original maturity—causing significant losses to the bank as rates had plummeted post-2001.
The scam surfaced in via an internal probe. A complaint by bank official Narender Singh Parmar led to charges. Proceedings against Savitri abated after her death (she was paralyzed for 40 years, per Bharti's statement). Bharti sought transfer from Madhya Pradesh courts, succeeding via orders in , landing the case in Delhi's .
Prosecution's Ironclad Case vs. Defense's Political Ploy
The prosecution painted a picture of : Prajapati, a clerk turned senior manager via "out-of-turn promotions," forged "valuable securities" under Bharti's directions. Interest flowed to Bharti's family trust, the bank of post-maturity renewals at lower rates. "Documents do not lie," the court noted, highlighting tampering evidence.
Bharti countered with claims of political vendetta, tying it to his BJP rivalries. He argued no direct proof linked him, and Prajapati acted alone or under coercion. The defense dismissed conspiracy as speculation, insisting on a fair trial need that prompted the Delhi transfer.
'Documents Don't Lie': Court's Razor-Sharp Reasoning
Judge Singh's 95-page order dismantled the defenses. Bharti's dual roles—bank chair and trust trustee—screamed involvement:
"It is highly possible that Bharti... had those applications submitted. After all, his mother was suffering from paralysis... according to Bharti’s own admission."
Prajapati's promotions were
"undue favours...
for the forgery."
Political motive?
"All speculation... long before the alleged political rivalry."
No precedents were cited in the provided order, but the ruling hinged on direct evidence: forged Ext. P5-7, P11 proving conspiracy to cheat via extended high-interest draws.
The court clarified: Normally, FDs renew post-maturity; here, forgery perpetuated 1998 rates till .
Key Observations
“Accused Bharti and accused Prajapati, along with Savitri Devi and possibly other unknown persons, entered into a . The object... to cheat the complainant bank by continuing to draw interest at a much higher rate beyond .”
“Suffice it to note that was indeed committed... based on a forged tenure of the FD, interest... was withdrawn annually until ... instead of [renewing], forgery was committed.”
“The sum and substance... Both accused Bharti and Prajapati are, therefore, guilty of punishable under .”
Verdict's Aftershocks: Jail, Appeals, and Assembly Tremors
The order explicitly convicts:
- Rajendra Bharti : Guilty under S.120B r/w 420/467/468/471 IPC.
- Raghuvir Sharan Prajapati : Additionally, S.467/468 r/w 120B for forging Ext. P5-7, P11.
Both in custody till sentencing (rescheduled to 11 AM, ). Bharti's office vows a challenge. For Madhya Pradesh Congress, reeling from recent MLA setbacks like Mukesh Malhotra's stayed disqualification, this could trigger byelections in Datia—especially if imprisonment exceeds two years, mandating disqualification.
This ruling underscores accountability for public figures in financial crimes, potentially chilling misuse of institutional power in rural banking.
