JUDGMENT: 3 years RI to then BM of Central Bank of India and others

Jalandhar, March 2, 2013: The Special Judge for CBI Cases, Bhopal (Madhya Pradesh) has convicted R.S. Ayer, then Branch Manager of Central Bank of India, Shahpura Branch, District Bhopal (MP) and three private persons namely Dharmendra Parmar, Sukhdev Prasad Makhija and R. K. Dwivedi in a bank fraud case.

R. S. Ayer, then Branch Manager was sentenced to undergo three years Rigorous Imprisonment with fine of Rs.1.30 lakh while other three private persons to undergo three years Rigorous Imprisonment with fine of Rs.50,000 each.

CBI Bhopal Branch had registered a case against R. S. Ayer, the then  Branch  Manager of Central Bank of India Shahpura Branch, District Bhopal and others U/s 120-B r/w 420, 468, 471 of IPC and Sections 13(2) r/w 13(1)(d) of  PC Act, 1988 on the allegations that he had entered into criminal conspiracy with private persons and  dishonestly and fraudulently  sanctioned  housing loan to the tune of Rs. 51,77,000.

After investigation, four  charge sheets were filed on July 13, 2004 in the Court of  Special Judge for CBI Cases, Bhopal against R. S. Ayer, the then  Branch Manager of Central Bank of India Shahpura Branch, District Bhopal and others.

The Trial Court found the then Branch Manager and three private persons guilty and convicted them. One another private person died during trial.

The Special Judge for CBI Cases, Bhopal has earlier on February 6, 2013 also sentenced R. S. Ayer, then Branch Manager to undergo seven years Rigorous Imprisonment with fine of Rs.60,000, M. B. Nayak, then Assistant  Manager to undergo three years Rigorous Imprisonment with a fine of Rs.40,000; Dharmendra Parmar(Private person ) to undergo seven years Rigorous Imprisonment with fine of Rs. 70,000 and four other private persons i.e. Shakeel Ahmed, Kishan Sukhwani, Rajeev Singh and Kamlesh Jain, all to undergo seven years Rigorous Imprisonment with fine of Rs. 90,000 each in this case. One private person was acquitted by the Court.