CBI Punishes Bank Officers

Bank employee swindles Rs 40 lakh
-Times of India 02.05.2014

COIMBATORE: The officials of Bank of Baroda (BOB) from Selakarichal village near Sulur in Coimbatore district lodged a petition with the district superintendent of police M Sudhakar that one of their bank staff misappropriated lakhs of rupees from fixed depositors. The officials requested the police to take action against the staff who has gone into hiding now. 

The petition was forwarded to the district crime branch by SP Sudhakar who ordered a detailed investigation on the petitions filed. Police officials confirmed that over 40 lakh rupees were misappropriated by the staff in the BOB. 

The villagers had opened fixed deposit accounts, depositing lakh of rupees in the accounts. One staff member used to receive the deposits in cash. If a depositor handed over Rs 2.50lakh to the employee, he would pocket Rs2lakh and mention only Rs50,000 in the deposit slip and later get the signature from the branch manager. However, the copy of the deposit slip given to the depositor would show the actual amount. 

Since it was a fixed deposit, the depositor rarely checked his account. A few weeks ago, the accused employee went on leave. During this time, one depositor realized that his account did not reflect the total money he had deposited which was Rs1lakh. Later, he approached the bank manager who immediately conducted a probe and came to know that at least Rs40lakh had been misappropriated by the staff. 

Following the incident, the bank administration approached the police who requested the bank to submit more documents in connection with the case. Meanwhile the police came to know that the bank staff is absconding. Police sources said that as soon as they get more details on the fraud, they would register a case against the bank employee.

Link Times of India

FOUR YEARS RIGOROUS IMPRISONMENT WITH FINE OF Rs. FOUR LAKHS TO THEN SENIOR MANAGER OF UNION BANK OF INDIA FOR MISAPPROPRIATION OF Rs. 7.33 LAKHS

Press Release New Delhi , 02.05.2014

The Special Judge for CBI cases, Indore has convicted Shri Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore & his son Sh. Vikram Singh (Private person) for misappropriation of Rs.7.33 Lakhs (approx). Shri Anil Yadav was sentenced to undergo four years Rigorous Imprisonment with fine of Rs.4 Lakhs while his son to undergo one year Rigorous Imprisonment with fine of Rs. 50,000/-.             CBI had registered a case on 17/03/2010 against Shri Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore and unknown officers U/s 120-B, 409, 477-A of IPC & Section 13(2) r/w 13(1)(c) & (d) of PC Act, 1988 on the basis of complaint filed by Chief Vigilance Officer, Union Bank of India, Central Office, Union Bank Bhawan, Mumbai on the allegations that Shri Anil Yadav fraudulently facilitated one courier agency M/s. Fast Flight Couriers which was run by his son Shri Vikram Singh. The said courier agency had been hired for collecting and delivering inward & outward clearing cheques from local branches of Union Bank of India at Indore. The competent Authority had approved payment of Rs. 23,000/- per month to the said courier agency, whereas Shri Anil Yadav had made payments ranging from Rs.42,000/- to Rs.72,500/ per month. By this way, Shri Anil Yadav caused undue pecuniary advantage to M/s. Fast Flight Couriers (a Proprietorship run by his son) to the tune of Rs. 7.33 Lakhs(approx.).             CBI filed a charge sheet U/s 120-B r/w 409, 420, 477-A of IPC & U/s. Sec. 13(2) r/w 13(1) (c) & (d) of PC Act. 1988 against Shri Anil Yadav and Shri Vikram Singh on 31/10/2011 in the Court of Special Judge for CBI Cases, Indore on the misappropriation of Rs.7.33 Lakhs.             The Trial Court found both the accused guilty and convicted them. CBI ARRESTS A BRANCH MANAGER OF PUNJAB NATIONAL BANK FOR ACCEPTING BRIBE OF Rs.1.50 LAKH Press Release New Delhi , 01.05.2014             The Central Bureau of Investigation has arrested a Branch Manager, Punjab National Bank, Kochas Branch, District Rohtas (Bihar) for demanding & accepting a bribe of Rs.1.50 Lakh from the Complainant.             A case was registered against Branch Manager, Punjab National Bank, Kochas Branch, Rohtas on the basis of complaint in which it was alleged that the Branch Manager demanded bribe of Rs.1,50,000/- for sanctioning loan of Rs.10 Lakhs under Prime Minister Employment Guarantee Scheme in favour of the complainant for pursuing his business.             CBI laid a trap and the accused was caught red handed while demanding & accepting a bribe of Rs.1,50,000/- from the residence of the Complainant. The arrested accused is being produced today before the Designated Court.

CBI ARRESTS A SENIOR MANAGER OF PUNJAB NATIONAL BANK IN A BRIBERY CASE

Press Release New Delhi , 29.04.2014

The Central Bureau of Investigation has arrested Senior Manager, Punjab National Bank, Sangli Branch (Maharashtra) for demanding & accepting a bribe of Rs.10,000/- from the Complainant.             A case was registered on a complaint alleging that the accused was demanding bribe of Rs.15,000/- from the Complainant to release the demand draft of Rs.1.5 lacs being the amount of loan sanctioned by the Bank to him under Suvarna Jayanti Rojgar Yojna. After negotiation, the Bank Manager agreed to accept Rs.10,000/- as bribe. CBI laid a trap and the accused was arrested while demanding & accepting the bribe from the Complainant. Searches were conducted at the residence of accused at Sangli and Pune.             The arrested accused was produced today in the Special Court at Sangli and was remanded to Police Custody upto 30.04.2014. THREE YEARS RIGOROUS IMPRISONMENT TO THEN SENIOR BRANCH MANAGER OF BANK OF INDIA IN A BRIBERY CASE Press Release New Delhi , 01.03.2014             The Special Judge for CBI Cases Indore has convicted Sh.Kishori Lal Parmar then Senior Branch Manager, Bank Of India, Nemawar Branch, District Dewas(Madhya Pradesh) in a bribery case and sentenced him to undergo three years Rigorous Imprisonment with fine of Rs.50,000/-.             CBI had registered a Case U/s 7 & 13(2) r/w 13(1)(d) of PC Act, 1988 on the basis of complaint against Kishori Lal Parmar, the then Branch Manager, Bank of India, Nemawar Branch, Dist- Dewas alleging that he had demanded a bribe of Rs. 70,000/- for sanction of KCC loan of Complainant, his father and his uncle. The Complainant further alleged that Shri Kishori Lal Parmar had obtained Rs. 44,000/- by pressurizing him and further he was also demanding Rs. 26,000/- for sanction of KCC loan of his uncle. CBI laid a trap on 20.09.2012 and the accused was caught red handed while demanding & accepting bribe of Rs. 10000/- from Complainant..             A charge sheet was filed on 11.12.2012 in the Court of Special Judge for CBI Cases, Indore against Shri Kishori Lal Parmar, the then Sr. Branch Manager, Bank of India U/s 7& 13(2) r/w 13(1)(a)& 13(1)(d) of PC Act. 1988.             The Trial Court found the accused guilty and convicted him. CBI ARRESTS TWO ACCUSED IN AN ALLEGED BANK FRAUD CASE Press Release New Delhi , 03.03.2014            The Central Bureau of Investigation has arrested two accused from Hyderabad in an alleged bank fraud case.            A case was registered by CBI during August, 2013 on a complaint lodged by IDBI Bank Ltd. alleging that their Specialised Corporate Branch, Hyderabad was defrauded to the tune of Rs.10.19 crores (approx.) by a private construction company based at Khairatabad, Hyderabad (Andhra Pradesh).            The arrested accused were produced before the Special Judge for CBI Cases, Hyderabad and remanded to Judicial Custody. CBI ARRESTS A BRANCH MANAGER OF UNION BANK OF INDIA IN A BRIBERY CASE Press Release New Delhi , 06.03.2014         The Central Bureau of Investigation has arrested a Branch Manager, Union Bank of India, Kolvan Branch, Pune for demanding & accepting a bribe of Rs. 9,000/- from the Complainant.         A case was registered U/s 7 of PC Act, 1988 regarding demand of bribe of Rs. 9000/- by Branch Manager (Scale-I), Union Bank of India, Kolvan Branch, Pune for sanction and disbursement of Crop Loan of Rs. Three Lakhs to the Complainant.  CBI laid a trap and the Branch Manager was caught red handed while demanding & accepting the bribe amount of   Rs. 9000/- from the complainant inside the bank premises.         The arrested accused is being produced today in the Designated Court at Pune.

TWO YEARS RIGOROUS IMPRISONMENT TO THEN BANK OFFICIAL FOR CAUSING LOSS OF RS.23.04 LAKHS (APPROX) TO BANK

Press Release New Delhi , 07.03.2014

The Special Judge for CBI cases, Daman has convicted Shri Dilip Naginbhai Patel, then Head Assistant, State Bank of India, Daman Branch and sentenced him to undergo two years rigorous imprisonment with fine of Rs.7,000/- .         CBI had registered a case against Shri Dilip Naginbhai Patel, Head Asstt. State Bank of India, Daman Branch and his wife, who while functioning as Head Asstt. in the State Bank of India, Daman Branch, Daman, during the period July 1993 to July 1998, entered into criminal conspiracy with his wife to cheat the State Bank of India. He utilised forged documents and a mechanical device known as the "Ledge Posting Machine" to transfer the deliverance of the Bank's money, falsified the Branch records, misappropriated the Bank's funds entrusted to him and cheated the State Bank of India to the tune of Rs.23.04 lakhs(approx).         A charge-sheet was filed on 24-1-2002 in the court of Special Judge, Daman U/s 120-B r/w. 420 of IPC, 467, 468, 471, 409, 477-A, 201 IPC and Sec.13(2) r/w. 13(1)(d) of PC Act, 1988 against the accused and his wife.         The Trial Court found the accused Shri Dilip Naginbhai Patel,then Head Assistant State Bank of India guilty and convicted him. His wife expired on 17/3/2009. CBI ARRESTS A BANK MANAGER AND A SENIOR SECTION ENGINEER OF RAILWAYS IN SEPARATE CASES OF BRIBERY Press Release New Delhi , 11.03.2014             The Central Bureau of Investigation has arrested a Branch Manager of State Bank of Hyderabad, Chopada Branch, Distt. Jalgaon (Maharashtra) for demanding & accepting a bribe of Rs. 10,000/- from the Complainant.             A case was registered against a Branch Manager, State Bank of Hyderabad, Chopada Branch, Distt. Jalgaon on the allegations of demanding a bribe of Rs. 10,000/- for releasing an installment amount of Rs.Three Lakhs of housing loan sanctioned to the complainant. Thereafter, CBI laid a trap and the accused was caught red handed while demanding & accepting bribe of Rs. 10,000/-. During searches at residential & office premises of accused, incriminating documents relating to investment made by the accused, Gold, Silver jewellery & coins and cash were recovered.             The arrested accused was produced before the Special Judge, Jalgaon who remanded the accused to Police Custody till 11/03/2014.             In another case, the CBI has arrested a Senior Section Engineer, Southern Railway for demanding & accepting a bribe of Rs. 15,000/- from the Complainant.             A complaint was received against Sr. Section Engineer, working in the office of Dy. Chief Engineer (Construction), Southern Railway, Chennai alleging that the said Officer was demanding money for taking measurement of the Railway Contract Work carried out by the complainant and recording the same in the measurement book in order to raise the bill. Based on the complaint, a case was registered. CBI laid a trap and arrested the accused while demanding & accepting a bribe of Rs.15,000/-.             The accused was produced before the Principal Special Judge for CBI Cases, Chennai and remanded to judicial custody. CBI ARRESTS A BANK MANAGER AND TWO OFFICIALS OF CENTRAL COAL FIELD LIMITED IN SEPARATE CASES OF BRIBERY Press Release New Delhi , 12.02.2014         The Central Bureau of Investigation has arrested a Branch Manager, State Bank of Patiala, Cheema, Distt. Sangrur (Punjab) for demanding & accepting a bribe of Rs. One Lakh from the Complainant.          A case was registered on a complaint from a resident of Distt. Sangrur, Punjab alleging demand of bribe of Rs.6.5 lakh by Branch Manager, State Bank of Patiala, Cheema, Distt. Sangrur for liquidating the loan and returning the documents of the land which was mortgaged with the bank. CBI laid a trap and the Bank Manager was caught red handed while demanding & accepting bribe of Rs.One Lakh, as first instalment from the complainant.         The accused was produced in the Designated Court and remanded to Judicial Custody.          In an another case, the CBI has arrested Project Officer and his subordinate Sales Manager, posted at Swang Washery, Kathara Area Central Coal Field Limited (CCL) for demanding & accepting a bribe of Rs. 20,000/- from the Complainant.         CBI had registered a case against Project Officer and Sales Manager of Swang Washery, Kathara Area, CCL on the basis of a complaint by a coal trader. It was alleged that said Project Officer and Sales Manager had demanded illegal gratification of Rs. 20,000/- from the complainant for providing him coal stock against a delivery order issued by CCL. CBI laid a trap and caught Project Officer & Sales Manager red handed while demanding & accepting bribe of Rs. 20,000/- from the complainant.         The arrested accused persons were produced before the Special Judge CBI cases, Dhanbad and were remanded to Judicial Custody. FIVE YEARS RIGOROUS IMPRISONMENT TO THREE THEN OFFICERS OF CENTRAL BANK HOME FINANCE LTD  AND OTHERS FOR CAUSING LOSS OF RS.85.75 LAKH Press Release New Delhi , 11.02.2014         The Special Judge, CBI cases, Jabalpur has convicted 11 accused persons i.e Shri S.C.Jharia & Shri B.S.Sullere, both the then Branch Managers and Shri S.S. Solanki, the then Junior Officer, all of Central Bank Home Finance Limited, Jabalpur (a subsidiary company of Central Bank of India) & eight others and sentenced them to undergo five years Rigorous Imprisonment each U/s 120 B, 420, 468 & 471 IPC and 13 (2) r/w (1) (d) P.C. Act. 1988, and fines ranging from Rs. 5,000/- to Rs. 2,90,000/-.         The CBI filed nine separate charge sheets on 29.09.2007 before the Special Judge, CBI Cases, Jabalpur against Shri S.C.Jharia, Shri B.S.Sullere, both the then Branch Managers & Shri S.S. Solanki, the then Junior Officer, all of Central Bank Home Finance Limited and 12 other borrowers & private builders U/s 120 B, 419, 420, 468 & 471 IPC and 13(2) r/w (1)(d) P.C. Act. 1988, alleging that during the period 2002-2003, the said accused public servants in criminal conspiracy among themselves and with other 12 borrowers,  private builders and Panel Advocate, dishonestly & fraudulently sanctioned & disbursed housing loans to the borrowers  for purchasing ready built flats & for constructing houses on the basis of fake pay slips & fake employer certificates as well as false search reports furnished by the Panel Advocate of the said company without conducting pre or post sanction inspections. It was also alleged that since the said accused public servants created in fructuous mortgage, the bank could not enforce recovery by attaching the properties, financed by the said company. A loss of Rs.85,75,000/-(approx) was caused to Central Bank Home Finance Limited, Jabalpur.            The Trial Court found 11 accused guilty and convicted them. The Special Judge acquitted one of the borrowers and a Panel Advocate of Central Bank Home Finance Limited. Two other accused builders were absconders during investigation itself and hence, judgment was not pronounced against them. TWO YEARS RIGOROUS IMPRISONMENT TO THEN BRANCH MANAGER OF BANK OF BARODA FOR CAUSING A LOSS OF Rs. 39.57 LAKH(APPROX) Press Release New Delhi , 06.01.2014             The Special Judge, CBI Court No.4, Mirzapur, Ahmedabad has convictedShri Vrajlal Mohanbhai Borad, the then Branch Manager, Dumiyani Branch, Bank of Baroda, Rajkot and sentenced him to undergo two years Rigorous Imprisonment with fine of Rs. 2,500/- for causing loss of Rs. 39.57 Lakh(approx) to Bank of Baroda.             CBI had registered a case against Shri Vrajlal Mohanbhai Borad, the then Branch Manager, Bank of Baroda, Dumiyani Branch, Rajkot on the allegations that the accused in conspiracy with other accused persons sanctioned crop loans to non-existent applicants or to applicants who were earlier sanctioned crop loans and thus caused loss of Rs.39.57 Lakh(approx) to Bank of Baroda. After investigation, charge sheet was filed against four accused Persons U/Sec.120-B r/w 379 U/s 409,465,471,477(A) of the IPC and 13(2) r/w 13(1)(d) of PC Act,1988.             The Trial Court found Shri Vrajlal Mohanbhai Borad guilty and acquitted three other persons. CBI FILES A CHARGESHEET AGAINST THEN BRANCH MANAGER OF STATE BANK OF HYDERABAD IN AN ALLEGED LOSS OF RS. 3.18 CRORES(APPROX) Press Release New Delhi , 10.01.2014             The Central Bureau of Investigation has filed a chargesheet against the then Branch Manager, State Bank of Hyderabad, MP Nagar Branch, Bhopal and four private persons in the Court of Special Judge for CBI cases, Bhopal U/s 120B, 419, 420, 467, 471 of IPC and Section 13(2) r/w 13(1)(d) of PC Act, 1988 for causing an alleged loss of Rs. 318.52 Lakh(approx).             A case was registered on 1.12.2011 U/s 120-B, 420, 468 & 471 of IPC and section 13(2) r/w 13(1)(d) of PC Act 1988 against the then Branch Manager, State Bank of Hyderabad, MP Nagar Branch, Bhopal(Madhya Pradesh) and others. It was alleged that during the period from 05.06.2009 to 29.09.2010, the then Branch Manager, State Bank of Hyderabad, MP Nagar Branch, Bhopal entered into criminal conspiracy with five Proprietors of Private Construction firms, who were involved in housing construction and conspired with the unknown borrowers to cheat the State Bank of Hyderabad, MP Nagar Branch, Bhopal to the tune of Rs 318.52 Lakh(approx) by way of facilitating availment of Housing Loans on fraudulent & dishonest submission of fake salary slip; documents related with inflated cost of construction, and showing the documents as purportedly genuine to the bank.             After completion of investigation, CBI filed a chargesheet.             The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.