CBI Court Finds Bank Manager, Four Others Guilty
The CBI Special Court in Dharwad has found a bank manager, a trading company director, a chartered accountant and two others guilty of defrauding Bank of India for Rs 90 lakh. The court sentenced them to one year of rigorous imprisonment and fined them a total of Rs 1,60,000 for offenses including cheating, forgery, criminal misconduct and falsification of accounts.
This case, dating back to 2001, involves the then branch manager of Bank of India's Shahapur branch, D.V. Narvekar, Poonam Trading Company's director Anand Seshu, chartered accountant N. Adinarayana and Devaraj and Hemalatha Devaraj. After a 22-year trial, the CBI court issued the judgment following the Supreme Court's vacation of the stay.
The CBI, ACB Bengaluru, filed a charge sheet in 2002 alleging Narvekar conspired with Bijoy Kethan and Poonal Kethan, owners of Tej Exports and Poonam Trading Co., to obtain a Rs 54 lakh cash credit limit from Bank of India using falsified documents. Seshu was accused of colluding with bank officials for credit facilities, while Adinarayana submitted false financial documents. The others provided forged title deed copies to obtain credit facilities.
The primary accused, Bijoy Kethan, and his wife were reportedly absconding when the case was registered, prompting the CBI to issue a red corner notice and a lookout circular against them. The court convicted the accused under several sections of the IPC and the PC Act, with Senior Public Prosecutor Shivananda Perla representing the CBI.
