CBI registers three cases against officials of State Bank of Mysore and others for causing loss in Crores to Bank
 
Information
New Delhi , 01-09-2011

The Central Bureau of Investigation has registered three cases against the then Manager & Assistant Manager of State Bank of Mysore, Bhopal and others for causing huge loss in crores to the Bank.

The first case was registered against the then Manager & the then Assistant Manager, both of State Bank of Mysore, Branch Bhopal and Bhopal-based Construction Builder & Developers and its Partners U/s 120-B, 420, 464, 468 & 471 IPC and 13(2) r/w 13(1)(d) of P C Act 1988 on the allegations that the then Manager, State Bank of Mysore, Branch Bhopal & others entered into criminal conspiracy with aforesaid firm and sanctioned & disbursed 42 housing loans in the name of various borrowers brought by the said builder on the basis of false IT Returns, Balance Sheets etc. The present whereabouts of these borrowers are not known and no sale deed is available in respect of these 42 housing loans and the builder firm, thereby caused wrongful loss to bank and wrongful gain to themselves to the tune of Rs. 447 lacs (approx).

The second case was registered against the then Manager, State Bank of Mysore & the then Assistant Manager, both of State Bank of Mysore, Branch Bhopal and Bhopal-based Construction Builder & Developers and its Partners U/s 120-B, 420, 464, 468 & 471 IPC and 13(2) r/w 13(1)(d) of P C Act 1988 on the allegations that the then Manager, State Bank of Mysore, Branch Bhopal and others entered into criminal conspiracy with aforesaid firm and sanctioned & disbursed 42 housing loans in the name of various borrowers brought by the builder on the basis of false IT Returns, Balance Sheets etc. The present whereabouts of these borrowers are not known and no construction was taken up by the builder firm, thereby caused wrongful loss to bank and wrongful gain to themselves to the tune of Rs. 448 lacs (approx).

The third case was registered against the then Manager, State Bank of Mysore & the then Assistant Manager, State Bank of Mysore, both of Branch Bhopal and Bhopal-based firm U/s 120-B, 420, 464, 468 & 471 IPC and 13(2) r/w 13(1)(d) of P C Act 1988 on the allegations that the then Manager, State Bank of Mysore, Branch Bhopal and others entered into criminal conspiracy with aforesaid firm and sanctioned & disbursed 21 housing loans in the name of various borrowers brought by the builders and without ascertaining the identity & correct whereabouts of the borrowers. The builder firm has not taken up construction and thereby caused wrongful loss to bank & wrongful gain to themselves to the tune of Rs. 200 lacs(approx).

Searches were conducted at office & residential premises of accused public servants and private persons at Bhopal, Delhi and Mysore. Incriminating documents seized during the search are being scrutinized for further investigation.

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