Bangalore Special CBI Court sentenced Syndicate Bank ex-Sr. Manager G Satya Babu of Jalahalli Branch Bangalore, Bharati S, Nalinakshi, S Ramesh and Prince Neshan to rigorous imprisonment of 05 years along with combined fine of Rs. 62.3 lakh in a bank fraud case.
CBI had registered the instant case on 29.02.2016 based on complaint from Syndicate Bank Regional Office Bangalore against the then Senior Manager, Syndicate Bank G.Satya Babu of Jalahalli Branch, Bangalore and Unknown others on allegations that accused entered conspiracy with others and caused loss to the bank.
After completion of investigation, 2-charge sheets were filed against accused including those sentenced today.
Investigation revealed that Satyababu, the then Sr. Manager, Syndicate Bank and private persons, on the allegations that Satyababu entered into criminal conspiracy with borrowers and sanctioned various loans under MSE Scheme initiated by Syndicate Bank and sanctioned MSME loans under his discretionary powers based on fake quotations and thereby caused a wrongful loss of Rs.76 lakh(approx)/- to the bank.
After trial, the Court held accused guilty and sentenced them accordingly.
