Tuesday, December 10th, 2019

Three Years Rigorous Imprisonment To Then Branch Manager Of Indian Bank For Causing Loss Of Rs.21.86 Lakh To Bank

INVC,, Delhi,, The Special Judge for CBI Cases, Chennai convicted Shri R. Chandrasekaran, the then Branch Manager of Indian Bank, Thiruporur Branch (Tamil Nadu) for cheating the bank to the tune of Rs.21.86 Lakh (approx) and sentenced him to undergo three years Rigorous Imprisonment with fine of Rs.2.54 Lakh.  A case was registered against Shri R.Chandrasekaran, Branch Manager, Indian Bank, Thiruporur Branch on the allegations that while working as Branch Manager, during the period from 13.12.1999 to 29.06.2002, he had abused his official position and cheated Indian Bank & its customers. He had fraudulently issued forged FDR receipts to the customers for the investments made by them, and retained the genuine 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. Subsequently, he withdrew the loan amounts for his personal use and purchased shares in his name & in the name of his wife. The accused cheated the Bank & its customers in 9 instances, causing a total loss of Rs.21,86,326.00 to the bank.  After the investigation, CBI filed separate charge sheets in nine cases against Shri R.Chandrasekaran under sections 120-B r/w 420, 468, 468 r/w 471,477 A IPC and section 13(2) r/w 13(1)(d) of PC Act, 1988 .  On completion of the trial, the Court pronounced judgement convicting Shri R. Chandrasekaran in all the nine cases.

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