2 bank staff,3 others get 3 yrs jail for bank fraud

The Special CBI Judge  in Bhopal on Wednesday in a case related to fraud in housing loans involving State Bank of Mysore, found guilty two bank officials and three private persons.

All the accused have been sentenced for three years’ rigorous imprisonment and Rs20,000 fine in all the four sections under which they were booked.

The CBI Bhopal had registered a case under sections 120-B and 420 of IPC and sections 13(2) and 13(1)(d) of the PC Act on August 2, 2011, on the basis of a written complaint lodged by T Thomas Mathew, CVO, State Bank of Mysore, HO, Bangalore.

In the complaint, it was alleged that AS Hegde, the then Branch Manager, State Bank of Mysore, Bhopal, and Ravinder Kumar, during their posting in Bhopal from 2006 to 2009, sanctioned and disbursed 21 housing loans in the name of various borrowers.

These borrowers brought in by builder M/s Tanu Shree Homes, represented by its prop rieter Ravi Sahu, and by not taking up constructions, the builder has cheated the Bank to the tune of Rs200.40 lakh.

After completion of investigation, on December 27, 2012 seven charge-sheets were filed in the court. The charge-sheets were submitted against AS Hegde, then Asst Manager of State Bank of Mysore, Bhopal Ravinder Kumar, Proprietor of M/s Tanu Shree Homes Ravi Sahu, Raj Kumar Rai of Silwani village in Raisen district and Ramesh Chandra Dubey of House No 5635, Krishna Nagar Colony, Pipal Chouraha, Baresia Road, Karond, Bhopal.