A special CBI court on Friday sentenced one person to life imprisonment and imposed a fine of Rs 3.13 crore and awarded rigorous imprisonment to four persons, including a former branch manager of Andhra Bank, for periods ranging from three years to ten years and levied fines collecting amounting to Rs 3.70 lakh in a bank fraud case.
The CBI court handed out life imprisonment to one Rajendra Marutrao Patil, a private individual, and imposed a fine of Rs. 3.13 crore.
The court sentenced Bandalmudi Mahipal, then Branch Manager, Andhra Bank, Ghodbundar Road Branch, 10 years’ rigorous imprisonment with fine of Rs. 3.40 lakh and awarded three years’ rigorous imprisonment each to Nizamuddin Ismail Surve alias Majeed Naik, Reshma Kunte @ Smt. Reshma Rajendra Patil and Premnath Atmaram Nikumbhe , all private individuals and imposed fines of Rs 18,000, Rs 12,000 and Rs 12,000 respectively on them for allegedly causing a huge loss to the Andhra Bank.
The CBI had registered a case on 30.01.2010 on a complaint from General Manager, Andhra Bank, Andheri, Mumbai against Rajendra Patil, Bandalmudi Mahipal, then Branch Manager, Andhra Bank, Ghodbundar Road Branch, Thane (Maharashtra) and three others.
The Prosecution’s case was that the accused persons had availed a term loan of Rs. 203.35 lakh for purchase of 15 Skoda Laura Cars. However, they purchased only one car, while they allegedly siphoned off rest of of the money was siphoned off for other purposes by the borrower.
The accused also availed another facility of Secured Overdraft of Rs.139.95 lakh against term deposit worth Rs.155.50 lakh which was also not cleared and thereby Andhra Bank was put to a total loss to the tune of approximately Rs. 2.30 crore.
After its investigation, the CBI filed a charge sheet in the special court against the accused under 120-B (conspiracy), 420 (cheating), 465 (punishment for forgery), 467 (forgery of valuable security, will etc) 468 (forgery for the purpose of cheating), 471 (using forged document as genuine one) & 511 (punishment for attempting to commit offences punishable with imprisonment for life or other imprisonment) of IPC and Section 13(2) r/w 13(1) (d) of Prevention of Corruption Act, 1988 and substantive offences.