Three years rigorous imprisonment to then senior manager of Indian bank and three private persons
Author(s): SK VyasNew Delhi/Jalandhar, August 12, 2012: The Special Judge for CBI Cases, Bangalore has convicted S.N.Shankar, the then Senior manager, Indian Bank, Sadashivanagar Branch, Bangalore and three other private persons G. P....
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Aug 13, 2013 12:30
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New Delhi/Jalandhar, August 12, 2012: The Special Judge for CBI Cases, Bangalore has convicted S.N.Shankar, the then Senior manager, Indian Bank, Sadashivanagar Branch, Bangalore and three other private persons G. P. Prabhy; G. N. S. Sharma & his wife R. T. Indrakshi all resident of Bangalore to undergo three years rigorous imprisonment with fine of Rs.85,000.
The CBI had filed a charge sheet against S.N.Shankar and others U/s.120-B r/w 420, 468, 471 IPC and u/s. 13(2) r/w 13(1) (d) of the PC Act-1988. The allegation as per the charge sheet were that S.N.Shankar in connivance with other accused persons had processed & recommended for sanction of term loan to the firm owned by the private persons without conducting pre-sanction verification; without complying the sanction conditions of the Zonal Office and had disbursed the term loan based on the false & fabricated documents submitted by the borrower. A loss of Rs. 20 lakh (approx) was caused to Indian Bank.
The Trial Court found the accused guilty and convicted them.
