New Delhi, December 29, 2014: The Special Judge for CBI Cases, Bhopal (Madhya Pradesh) has sentenced Bharat Singh Yadav, then Branch Manager, State Bank of India, Chandbad Branch, Bhopal to undergo three years Rigorous Imprisonment with fine of Rs.1.50 lakhs and Uday Pratap Singh; Vishwanath Singh and Manju Singh(Private persons), all to undergo three years Rigorous Imprisonment with fine of Rs. One lakh each for causing loss of Rs.2.98 crore (approx) to State Bank of India.
CBI had registered a case U/s 120-B r/w 409, 420 & 477-A of IPC and Section 13(2) r/w 13(1)(c) & 13(1)(d) of PC Act, 1988 on 28/03/2008 on the basis of a complaint. It was alleged that Bharat Singh Yadav, then Branch Manager, State Bank of India, Chandbad Branch, Bhopal had abused his official position and in criminal conspiracy with Uday Pratap Singh, Proprietor of M/s. Shree Vaishnav Industries & Partner of other companies of Bhopal; Shri Vishwanath Singh, Partner of M/s. V.L. Enterprises, Bhopal; another partner of M/s. V.L. Enterprises, Bhopal; Manju Singh, Partner of M/s. Prop. Solve Corpn., & M/s. Amit Enterprises, Bhopal and others, cheated the bank by allowing over drawings in the current accounts unauthorized and beyond his financial powers.
The accused sanctioned 4 Demand Loans & term Loan without obtaining any request application & security and falsifying the accounts. A loss to the tune of Rs.2,98,18,824.31(approx) was caused to Bank.
A charge sheet U/s 120-B r/w 420, 471 r/w 468 & 477-A of IPC and Section 13(2) r/w 13(1) (d) of PC Act, 1988 was filed on 02-06-2009 in the Court of Special Judge for CBI Cases, Bhopal against Bharat Singh Yadav, the then Branch Manager, S.B.I., Chandbad Branch, Bhopal and Uday Prtap Singh; Vishwanath Singh; Manju Singh & a partner of firm (All private persons).
The Trial Court found four accused guilty and acquitted one partner of Bhopal based private firm.
(SK Vyas/Jalandhar)
//Lawyer//-----------------------------
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