THREE YEARS IMPRISONMENT TO TWO MANAGERS OF STATE BANK OF INDIA AND TWO OTHERS FOR CAUSING LOSS OF RS. 82.73 LAKH(APPROX) TO BANK

Press Release
New Delhi , 17.05.2013

            The Special Judge for CBI Cases, Bangalore has convicted Shri K.Manjunath, the then Branch Manager & Shri H.S.Ganapathy, the then Dy. Manager, both of State Bank of India, Hebbal Branch, Bangalore; Shri K.N.Balagangadhara Sharma & Shri S.K.Shetty(both private persons) and sentenced them to undergo three years Simple Imprisonment with fine Rs.2,20,000/-.

 

            The CBI had filed a charge sheet after completion of investigation against Shri K.Manjunath, the then Branch Manager and three others U/s.120B r/w 420 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 K.Manjunath had entered into criminal conspiracy with the other accused persons in the matter of cheque discounting facility extended to M/s. Easwari Marketing Services owned by Shri K.N. Balagangadhara Sharma. In furtherance of the said conspiracy during the period from 04.07.2003 to 31.10.2003, both the Bank officers had purchased 183 cheques presented by Shri K.N. Balagangadhara Sharma as issued by the firm of Shri S.K Shetty and others. They exceeded their financial powers without any authorization from the competent authority. The act of the accused persons had caused a wrongful loss of Rs.82.73-lakh(approx) to State Bank of India and corresponding wrongful gain to the accused persons.

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