Dec 21, 2012, 04.38 PM | Source: PTI

CBI court sentences ex-Indian Bank Manager to 3 years RI

CBI court sentences ex-Indian Bank Manager to 3 years RI

Chennai, Dec 21 (PTI) A CBI court today sentenced a former manager of Indian Bank to three year' rigorous imprisonment for cheating and forgery. XI Additional Special Judge for CBI Cases EMKS Siddharthar sentenced R Chandrasekaran, then Manager of Indian Bank, Thiruporur Branch for having cheated the bank and its customers by using forged documents and causing a loss of over Rs 21 lakh, a CBI release here said. The Anti-Corruption Bureau of CBI registered a case based on the allegation that Chandrasekaran while working as Branch Manager between December 1999 and June 2002, "abused his official position and cheated Indian Bank and its customers by using the Fixed Deposits made by the customers." "Chandrasekaran, being the Branch Manager, fraudulently issued forged FDR receipts to customers for the investments made by them, and retained thegenuine FDR receipts with him. Further,he applied for loan on deposits against the genuine FDR receipts retained by him, by forging the signature of the customers and he himself sanctioned the loans as the Branch Manager," it said. He subsequently withdrew loan amounts for his personal use by way of issuing demand drafts for the purchase of shares in his name and in the name of his wife, and for his own transactions. "In this way, Chandrasekaran cheated the Bank and its customers in nine instances causing a total wrongful loss of Rs 21,86,326 to the bank and corresponding wrongful gain to himself," it said, adding, cases were filed against different sections of IPC and PCA including cheating. On completion of trial, the court sentenced him to three years' RI and imposed fine Rs 2.54 lakh on him, it added. PTI SA BN


video of the day

Mkt resilient at current level; bullish auto: ICICI Pru AMC

Explore Moneycontrol

Copyright © Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of is prohibited.