A special CBI court here on Wednesday has awarded three years of rigorous imprisonment to two bank officials for duping the State Bank of Mysore to the tune of Rs 2.40 crore.
The CBI had registered a case under sections 120-B and 420 of the IPC and 13(2) and 13(1)(d) of the PC Act, 1988, on August 2, 2011 on a complaint received from State Bank of Mysore, HO, Bangalore, against AS Hegde, the then Branch Manager and Ravinder Kumar, the then Assistant Manager, State Bank of Mysore, Bhopal and others on the allegations that AS Hegde and Ravinder Kumar during their posting at State Bank of Mysore, Bhopal, from 2006 to 2009, sanctioned and disbursed 21 housing loans in the name of various borrowers.
These borrowers were brought in by Ravi Sahu, proprietor of Tanu Shree Homes but the construction was not taken up. The builder thus cheated the Bank to the tune of Rs 200.40 lakh (approx).
The bank officials, in collusion with a builder, had disbursed 21 housing loans to different borrowers and later cheated the bank.
After investigations, the CBI had filed a charge sheet against these people following which the special court on January 15 sentenced them to three years' imprisonment.
The court also imposed a fine of Rs 1.30 lakh against Hegde and Kumar and Rs 1.20 lakh against Sahu and Rai, the official said, adding that if they failed to pay the fine, they will have to undergo an additional 3 months imprisonment.