AGM of Canara Bank sentenced to undergo two years imprisonment for causing loss of Rs.1.74 Crore to Bank.

Press Release
New Delhi , 25-08-2011

The Special Judge for CBI Cases, Bangalore convicted Shri L.S.Dinamani, the then AGM, Canara Bank, Mysore; Shri Ganesh D.Hegde, the then Manager, Canara Bank, Hunsur Branch, Mysore & 3 others and sentenced them to undergo 2-years Simple Imprisonment with a fine of Rs.85,000/-.

The investigation revealed that Shri L.S.Dinamani while working as AGM, Canara Bank, Mysore had entered into criminal conspiracy with other accused persons during 2003-06 in the matter of sanction and disbursal of 3-credit limits against third party collateral security having existing liabilities by submitting fabricated documents and used the same as genuine. A loss of Rs.174.44 lakhs was caused to Canara Bank and corresponding wrongful gain to accused persons.

After thorough investigation, CBI had filed a charge sheet against Shri L.S.Dinamani and 4-others U/s 120-B r/w 420, 468, 471 IPC and 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988. The Trial Court found the accused persons guilty and convicted them.