Four years rigorous imprisonment with fine to then senior manager of Union Bank of India

New Delhi, May 2, 2014:  The Special Judge for CBI cases, Indore has convicted Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore & his son Vikram Singh (Private person) for misappropriation of Rs.7.33 lakhs (approx).  Anil Yadav was sentenced to undergo four years Rigorous Imprisonment with fine of Rs.4 lakhs while his son to undergo one year Rigorous Imprisonment with fine of Rs. 50,000.
CBI had registered a case on March 17, 2010 against S Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore and unknown officers U/s 120-B, 409, 477-A of IPC & Section 13(2) r/w 13(1)(c) & (d) of PC Act, 1988 on the basis of complaint filed by Chief Vigilance Officer, Union Bank of India, Central Office, Union Bank Bhawan, Mumbai on the allegations that Anil Yadav fraudulently facilitated one courier agency M/s. Fast Flight Couriers which was run by his son Vikram Singh.
The said courier agency had been hired for collecting and delivering inward & outward clearing cheques from local branches of Union Bank of India at Indore.  The competent Authority had approved payment of Rs. 23,000 per month to the said courier agency, whereas Anil Yadav had made payments ranging from Rs.42,000 to Rs.72,500 per month.  By this way, Anil Yadav caused undue pecuniary advantage to M/s. Fast Flight Couriers (a Proprietorship run by his son) to the tune of Rs. 7.33 lakhs(approx.).
CBI filed a charge sheet U/s 120-B r/w 409, 420, 477-A of IPC & U/s. Sec. 13(2) r/w 13(1) (c) & (d) of PC Act. 1988 against Anil Yadav and Vikram Singh on 31/10/2011 in the Court of Special Judge for CBI Cases, Indore on the misappropriation of Rs.7.33 lakhs.