AGM OF STATE BANK OF MYSORE & FOUR OTHERS SENTENCED TO UNDERGO TWO YEARS IMPRISONMENT WITH A TOTAL FINE OF RS. FIVE LAKH IN A CBI CASE

Press Release
New Delhi , 01-12-2011

The Special Judge for CBI Cases, Bangalore has convicted Shri K.S.Srinivasa Murthy, the then AGM, State Bank of Mysore, Bangalore; Sh. V.J.G. Pais the then Branch Manager, State bank of Mysore, Tate Silk Farm Branch, Banglore; Sh. Mathero Joseph, Managing Director, M/s. Geyem Impex (P) Ltd., Sector-I, HSR Layout, Banglore including his firm and entenced them to undergo two years Simple Imprisonment with a fine Rs. Five lakh

A charge sheet was filed after completion of investigation against Shri S.Sivaswami, the then DGM, State Bank of Mysore, Zonal Office, Bangalore; Shri K.S.Srinivasa Murthy, the then AGM State Bank of Mysore, Bangalore and others u/s.120-B r/w 420, 467, 468-IPC and Sec.13(2) r/w 13(1) (d) of the Prevention of Corruption Act-1988. The allegations as per the charge sheet were that Shri S.Sivaswami during the period from 1998 to 2000 had conspired with other public servants and in violation of banking norms had entrusted the responsibility of processing export credit proposal of a firm with a branch which was not authorized to conduct foreign exchange and failed to protect the interest of the bank. A loss of Rs. Thirty lakhs to State Bank of Mysore was caused. Shri S.Sivaswami the then DGM died during the course of trial and hence charges against him were abated.

The Trial Court found the accused guilty and convicted them.


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