The Special Judge for CBI cases, Bhopal has sentenced AS Hegde, then Branch Manager, and Ravindra Kumar, then Assistant Manager, both working in State Bank of Mysore, Bhopal, to undergo three years’ rigorous imprisonment with fine of Rs 1.30 lakh.

Besides, Ravi Sahu, Proprietor of M/s Tanu Shree Homes to undergo three years’ RI with fine of Rs 1.20 lakh, Raj Kumar Rai (private person) to undergo three years’ RI with fine of Rs 1.20 lakh and Ramesh Chandra Dubey (private person) to undergo three years RI with fine of Rs one lakh.

CBI had registered a case under sections 120-B and 420 of the IPC and sections 13(2) and 13 (1) (d) of the PC Act, 1988 on August 2, on a complaint from State Bank of Mysore, HO, Bangalore then Branch Manager, then Assistant Manager and others on the allegations that both the officers sanctioned and disbursed 21 housing loans in the name of various borrowers from 2006 to 2009. These borrowers brought in by Ravi Sahu, Propriator of M/s Tanu Shree Homes (Builder) had not taken up constructions.

Thus, the builder had cheated the Bank to the tune of Rs 200.40 lakh (approx).

After completion of investigation, seven charge-sheets were filed in the Court of Special Judge for CBI Cases, Bhopal on December 27, 2012.

The charge-sheet of present case was filed against AS Hegde, then Branch Manager; Ravinder Kumar, then Assistant Manager, State Bank of Mysore, Bhopal; Ravi Sahu, Proprietor of M/s Tanu Shree Homes; Raj Kumar Rai, resident of Silwani, Distt Raisen and Ramesh Chandra Dubey, resident of Karond, Bhopal. The Trial court found the accused guilty and convicted them.