Mail News Service
New Delhi, July 24: The Special Judge for CBI Cases, Bangalore has convicted Shri P. Obaiah, the then Branch Head; G. V.
Halappa, the then Manager (Credit) both of Syndicate Bank, N.R. Colony Branch, Bangalore and N. Shankar, a
private to undergo imprisonment for a period of three years with total fine Rs. 6,25,000/- for causing loss of Rs. 1.60 crore to Bank.
CBI had filed a charge sheet after completion of investigation in the case against Shri P. Obaiah and two others U/s 120-B r/w 409, 420, 467, 468, 471 IPC and Sec. 13(2) r/w 13(1) (c) & (d) of the Prevention of Corruption Act 1988. The allegations as per the charge sheet were that P. Obaiah and G. V. Halappa while working in Syndicate Bank, N. R. Colony Branch, Bangalore had entered into criminal conspiracy with other accused person during 2007-09 in the matter of sanction & disbursal of secured overdraft and other secured loan. They allowed discounting of bills in violation of bank procedures & rules and on the basis of forged documents. The accused persons caused a wrongful loss of Rs.1.60 crore to Syndicate Bank and corresponding wrongful gain.
The Trial Court found the accused guilty and convicted them.
In another incident Central Bureau of Investigation has arrested a General Manager; Senior Engineer and Engineer Trainee (Purchase), all of Bharat Heavy Electricals Ltd(BHEL), Nagpur for demanding & accepting a bribe of Rs. 1,10,000/- from the complainant.
The complainant, a Managing Director of Ahmedabad based manufacturing company had alleged in his complaint that BHEL, Nagpur had floated a tender for supply of different types of hydraulic pumps. After opening of the price bid, the accused had intimated the complainant that the supply order for hydraulic pumps worth around Rs. 66 lakhs could be awarded to his company. However, the accused persons in conspiracy with each other demanded bribe from the complainant at the rate of 2% of the amount in the supply order. The complainant did not want to pay the bribe and lodged a complaint with CBI.
CBI laid a trap and the accused General Manager was caught red-handed while demanding & accepting a bribe of Rs. 50,000/- whereas the Engineer Trainee in charge of Purchase was caught red-handed while demanding & accepting a bribe of Rs. 60,000/- on behalf of the other accused Senior Engineer.
Searches are being conducted in the premises of the accused persons at various places in Maharashtra and Uttar Pradesh.
All the three arrested accused will be produced in the jurisdiction court at Ahmedabad after obtaining transit remand from the Court at Nagpur.
Read more / Original news source: http://manipur-mail.com/three-years-imprisonment-for-bank-managers/
