Two years rigorous imprisonment with fine to two bank officials in a fraud case

New Delhi, July 1, 2014: The Special Judge for CBI Cases, Chennai has convicted D. Kumar, then Branch Manager & M.P.Ranganathan, then Accountant, both of State Bank of India, Elephant Gate branch, Chennai in a fraud case and sentenced them to undergo two years Rigorous Imprisonment with fine of Rs. 25,000 each.

This was stated by a  spokesperson of the CBI,he said that CBI   had registered a case on 29.02.2008 against  D.Kumar, then Branch Manager;  M.P.Ranganathan, then Accountant and then Special Assistant, all were working in State Bank of India, Elephant Gate branch at Chennai.

It was alleged that during the period from 12.01.2007 to 31.07.2007, the accused entered into a criminal conspiracy among themselves to misappropriate the funds of SBI for making false entries in the records of ATM installed at SBI, Elephant Gate, Chennai and thus misappropriated an amount of Rs.52,28,900/-(approx).

The official further said that after investigation of the case, CBI filed  charge sheet  against the accused persons U/s120 B r/w 409,477-A of IPC & U/s 13(2) r/w 13(1)(c) of Prevention of Corruption Act, 1988 and U/s 66 of IT Act 2000 & substantive offences thereof. During the trial, then Special Assistant was expired.

The Trial Court found both the accused guilty and convicted them.

(SK Vyas/Jalandhar)