CHARGESHEET: CBI files chargesheet against two officials of SBI

Jalandhar, January 5, 2013: The Central Bureau of Investigation (CBI) has filed a charge sheet U/s 120B, r/w 409, 477A of IPC and Sections 13 (2) r/w 13(1)(c) & (d) of PC Act, 1988 against the then Branch Manager; the then Field Officer both working in State Bank of India, Pasighat (Arunachal Pradesh) and two  Private Persons in the Court of Special Judge, Tezu (Arunachal Pradesh) for causing alleged loss of about Rs. 99.60 lakhs.

According to the Spokesperson of the CBI, this case was registered on the basis of a complaint alleging that a major fraud was committed at the State Bank of India, Pasighat Branch (Arunachal Pradesh) in the sanction of 86 loans for an amount of about Rs.1.70 crore by the Branch Manager. It is further alleged that major irregularities were committed by the Branch Manager in connivance of other SBI officials and outsiders by sanctioning loans to non-existent units during the period September, 2006 to November, 2007.

The investigation established that in 27 loan instances, the accused persons in criminal conspiracy with each other, allegedly caused loss to the SBI to the tune of about Rs.99.60 lakhs.

The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.