Three years rigorous imprisonment with fine of rs. One lakh to then rural development officer of indian bank in five cases of bank fraud
INVC, Delhi, The Special Judge for CBI Cases, Coimbatore (Tamil Nadu) has convicted Shri.T. Kandasamy, former Rural development Officer of Indian Bank and sentenced him to undergo three years imprisonment in five connected cases of bank fraud and sentenced him to undergo three years Rigorous Imprisonment in all the five cases with total fine Rs.1,00,000/- . CBI registered a case against Shri T.Kandasamy, former Rural Development Officer of Indian Bank, Udumalpet branch, Coimbatore(Tamilnadu) based on the allegations that during the year 1995 to 2002 , the accused person had abused his official position & got sanctioned agricultural crop loans in the names of fictitious persons by way of creating forged & fabricated loan documents in the names of the fictitious loanees. Further, he encashed the loan proceeds of such fraudulent loans by opening fictitious accounts in the names of the non existing loanees and operated them by forging the signatures. After the investigation of the case, CBI filed charge sheet before Special Judge for CBI Cases, Coimbatore on 07.01.2004 against Shri. T. Kandasamy in five connected cases covering 15 fictitious crop loans raised by the accused person U/s 420, 467, 468, 471 of IPC & sec 13(2) r/w 13(1)(d) of PC Act, 1988 for causing total loss of Rs. 3,32,000/-(approx) to Indian Bank. The Trial Court found the accused guilty and convicted him.