TWO YEARS IMPRISONMENT TO TWO BANK MANAGERS AND THREE PRIVATE PERSONS IN SEPARATE CASES OF CORRUPTION

Press Release
New Delhi , 17.12.2012

            The Special Judge for CBI cases, Bangalore has convicted a Chief Manager of Andhra Bank; a Senior Manager of Syndicate Bank & three private persons and sentenced them to undergo two years imprisonment in separate cases of corruption.

 

            Shri G.Subramanyam, the then Chief Manager, Andhra Bank, NR Road Branch, Bangalore and Shri K.S.Vijayakumar a private person were sentenced to undergo two years Simple Imprisonment with total fine Rs.3,00,000/- for causing a loss of Rs. 25 lakhs(approx) to Andhra Bank.

 

            After completion of investigation, CBI filed a charge sheet against Shri G.Subramanyam and Sh. K.S. Vijayakumar (private person) U/s 120-B r/w 420, 468, 471 IPC and Sec.13(2) r/w 13(1) (c) & (d) of the Prevention of Corruption Act-1988. The allegations as per the charge sheet were that Shri G.Subramanyam while working in Andhra Bank, NR Road Branch, Bangalore had entered into criminal conspiracy with other accused person during 1995-96 in sanction & disbursal of various credit facilities to private person on the strength of fake export bills and thereby caused a wrongful loss of Rs.25 lakhs(approx) to Andhra Bank.

 

            In an another case, the Special Judge for CBI Cases, Bangalore has convicted Shri S.Murali, the then Senior Manager, Syndicate Bank, Zonal Office, Bangalore and Shri B.Ksinath & Smt. C.Punyavathi, both private persons to undergo two years imprisonment with total fine Rs.3,90,000/- for causing a loss of Rs. 14.90 lakh(approx) to Syndicate Bank.

 

            The CBI had filed a charge sheet against Shri S.Murali and two others U/s 120-B r/w 420 IPC & Sec.13(2) r/w 13(1) (c) & (d) of the Prevention of Corruption Act-1988. The allegations as per the charge sheet were that Shri S.Murali while working in Syndicate Bank, Indiranagar Branch, Bangalore had entered into criminal conspiracy with other accused person during 1991-93 in the issue of pay order to the other accused persons without sufficient balance in their account. The accused had also allowed clearing of cheques issued by the other accused persons in spite of not having sufficient balance in their account and thereby caused a loss of Rs.14.90 lakhs(approx) to Syndicate Bank.

 

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

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