Three to five years rigorous imprisonment with total fine to then Branch Manager of Central Bank of India and others

New Delhi, March 3, 2015: The Special Judge for CBI Cases, Bhopal (Madhya Pradesh) has convicted  R.S.Iyer, then Branch Manager &  M.B.Naik, then Assistant Manager, both of Central Bank of India, Shahpura, Bhopal and two private persons - Dharmendra Kumar &  Sunil Lahoti for causing an alleged loss of Rs.19.84 lakhs(approx) to Bank.  R.S.Iyer & Shri M.B.Naik were sentenced to undergo five years Rigorous Imprisonment with fine of Rs.7 lakhs each; Shri Dharmendra Parmar to undergo five years Rigorous Imprisonment with fine of Rs.10 lakhs & Sunil Lahoti to undergo three years with fine of Rs. One lakh.

CBI had registered a case on 21/03/2001 against  R.S.Iyer, then Branch Manager of Central Bank of India, Shahpura Branch, Distt. Bhopal & 7 others Under Secton 120-B r/w 420, 468, 471 of IPC and Section 13(2) r/w 13(1) of PC Act, 1988 on the allegation that  R.S.Iyer, the then Branch Manager, Central Bank of India, Shahpura, Bhopal (from June, 2000 to September, 2000) entered into criminal conspiracy with certain borrowers, builders & other private persons and sanctioned & disbursed the housing loans on the basis of bogus/fake title deeds furnished by the borrowers.  A loss of Rs.51.77 lakhs(approx) was caused to the bank.

After investigation, a charge sheet was filed on 13/07/2004 U/s 120-B, 420, 467, 468 and 471 IPC and Section 13(2) Read With Section  13(1)(d) of PC Act, 1988 in the Court of Special Judge for CBI Cases, Bhopal against  R.S.Iyer & Shri M.B.Naik, both bank officials and seven private persons for causing a loss of Rs.19,84,000 to Central Bank of India.

The Trial Court found both the Bank officials & two private persons guilty and convicted them. / (SK Vyas/ Jalandhar)