Saturday, February 29th, 2020

CBI files a charge sheet against then bank manager and three others for causing an alleged loss of rs. 2.53 crores to indian overseas bank

indian-overseas-bank.gifINVC NEWS New Delhi, The Central Bureau of Investigation has filed a charge-sheet in the Court of the Special Judge for CBI Cases, Ahmedabad (Gujarat) U/s 120B r/w 420, 467, 468 & 471 of IPC & Sections 13 (2) r/w 13(1) (d) of Prevention of Corruption Act, 1988 against then Bank Manager and three private persons, for conspiring to cheat Indian Overseas Bank, Himmatnagar Branch, District Sabarkantha(Gujarat) and causing an alleged loss of to the tune of Rs. 2.53 crores (approx) A case was registered U/s 120B r/w 420, 467, 468 & 471 of IPC & Sections 13 (2) r/w 13(1) (d) of Prevention of Corruption Act, 1988 against the said Branch Manager of IOB, Himmatnagar Branch and 15 private persons, on the allegations that the Branch Manager, in conspiracy with the private persons, sanctioned agricultural term loans, for making Green House projects, without obtaining any documents. However, no such Green House projects were undertaken at all and the loans were disbursed without following the laid down banking norms. An alleged loss of Rs.2.53 Crores(approx) was caused to the Indian Overseas Bank, Sabarkantha District(Gujarat). The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.

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