BANK MANAGER SENTENCED IN A CBI CASE

Press Release
New Delhi , 31.01.2012

            The Special Judge for CBI Cases, Chennai has convicted Smt. Nirmala Sundaraman, the then Branch Manager of Indian Bank, Triplicane Branch, Chennai in a bank fraud case and sentenced her to undergo one year Simple Imprisonment with a fine of Rs.5,000/-.

 

            CBI registered a case on 31.05.1991 against Smt. Nirmala Sundararaman, the then Branch Manager, Indian Bank, Triplicane Branch, Chennai and others alleging that during the period 1988-89, the accused persons entered into criminal conspiracy to cheat Indian Bank, Triplicane Branch Chennai. In pursuance of the said conspiracy, Smt. Sundaramal, Proprietrix of M/s Sudha International Films, Chennai had submitted loan application with Indian Bank Triplicane Branch, Chennai for sanctioning overdrafts of Rs.Four lakhs for producing a Tamil feature film. Smt.Nirmala Sundararaman without conducting any pre-sanction verification, recommended & forwarded the said loan application for sanction to competent authority.While the application was under process with the Regional Office /Zonal Office, Smt. Nirmala Sundararaman allowed Smt. Sundaramal to withdraw the loan amount with help of the then Regional Manager. A loss to the tune of Rs.Four lakhs was caused to Indian Bank and corresponding wrongful gain to accused persons. After completion of investigation, a chargesheet was filed against the three accused persons before the Special Judge for CBI Cases, Chennai u/s. 120-B r/w. 420 IPC and Sec. 13(2) r/w. 13(1) (d) of PC Act 1988.

 

            On completion of the trial, the Special Judge convicted Smt.Nirmala Sundararaman for the offence and acquitted other two accused persons.

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