Hyderabad:
A special Central Bureau of Investigation (CBI) court on Tuesday convicted 11 persons, including six bank officials, for cheating the State Bank of India's Secunderabad branch here of Rs 12.57 crore that was taken as loans through forged and fake documents.
The court sentenced the then branch manager of SBI (Secunderabad branch) GVLN Shastri, five bank officials and five others for a jail term ranging between five to seven years and also imposed a total fine of Rs two lakh against all of them, CBI's senior public prosecutor T V Ramana told PTI.
"Shastri was sentenced to undergo a maximum punishment of seven-years imprisonment," he said.
A CBI team from Bangalore investigated the matter and a case was registered in 2000 against the accused persons under various provisions of IPC for criminal conspiracy, cheating, forgery, using as genuine a forged document and under sections of Prevention of Corruption Act and a chargesheet was filed subsequently in the CBI court here, Ramana said.
According to prosecution, the bank officials conspired with private persons with intention to cheat the bank by way of submitting false documents during the period of 1985-1995.
Loans were sanctioned in the name of fictitious firms and the misappropriation resulted in loss to the tune of Rs 12.57 crore to the government.
Trial was conducted against 16 including four private firms, Ramana said adding two persons were acquitted while two more accused are still absconding.
The court sentenced the then branch manager of SBI (Secunderabad branch) GVLN Shastri, five bank officials and five others for a jail term ranging between five to seven years and also imposed a total fine of Rs two lakh against all of them, CBI's senior public prosecutor T V Ramana told PTI.
"Shastri was sentenced to undergo a maximum punishment of seven-years imprisonment," he said.
A CBI team from Bangalore investigated the matter and a case was registered in 2000 against the accused persons under various provisions of IPC for criminal conspiracy, cheating, forgery, using as genuine a forged document and under sections of Prevention of Corruption Act and a chargesheet was filed subsequently in the CBI court here, Ramana said.
According to prosecution, the bank officials conspired with private persons with intention to cheat the bank by way of submitting false documents during the period of 1985-1995.
Loans were sanctioned in the name of fictitious firms and the misappropriation resulted in loss to the tune of Rs 12.57 crore to the government.
Trial was conducted against 16 including four private firms, Ramana said adding two persons were acquitted while two more accused are still absconding.
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