INVC,,
Delhi,,
The Special Judge for CBI cases, Bangalore has convicted Shri P.N. Upadhyay, the then Branch Manager, Bank of Baroda, Panambur Branch, Mangalore and sentenced him to undergo one year & eight months imprisonment with fine of Rs. 20,000/- for causing loss of Rs. 1.51 crore to the bank.
The investigation revealed that Shri P.N. Upadhyaya, the then Branch Manager, Bank of Baroda, Panambur Branch, Managalore had allowed 6-persons to open various current accounts and also allowed temporary overdrafts beyond his discretionary powers in these accounts. He sanctioned overdrafts which were outstanding in the bank books in violation of the laid down norms of the bank resulting in loss to the extent of Rs. 1.51 crores to the bank.
After completion of investigation a chargesheet was filed against Shri P.N. Upadhyay, the then Branch Manager, Bank of Baroda, Panambur Branch, Mangalore u/s 13(2) r/w 13(1)(d) of the PC Act-1988. The trial Court found the accused guilty and convicted him.
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