INVC NEWS
The Special Judge, CBI Cases, Ernakulam (Kerala) has sentenced Shri K.R. Ramesh, then Branch Manager, Bank of India, Ezhikkara Branch, Ernakulam to undergo three years Rigorous Imprisonment with fine of Rs. 10,000/-.
CBI had registered the instant case on 18.05.2010 against the accused & others on the allegations that Shri K.R. Ramesh while working as Branch Manager, Bank of India, Ezhikkara Branch, Ernakulam entered into a conspiracy with others including private persons during 2007-2008 to cheat Bank of India in the matter of sanctioning agricultural cash credit loans. In furtherance of said conspiracy, the accused fraudulently accepted the forged & fabricated documents such as lease agreements, estimate etc. as submitted by other accused & used it as genuine and sanctioned 3 agricultural loans for a total amount of Rs.30,00,000/- (approx.) in the name of other accused (private persons) for prawn cultivation & disbursed the loan amount to them without following the banks norms & procedure . The said loan amounts were used by the private persons for textile business with the knowledge of said Branch Manager, other than the purpose for which the loans were sanctioned.
After investigation, a chargesheet was filed against the accused on 30.09.2010. The Trial Court found the accused guilty and convicted him. Other 03 private persons were acquitted by the Court.
