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THREE YEARS RI TO THEN SENIOR MANAGER, CENTRAL BANK OF INDIA, TWO OTHERS FOR CAUSING LOSS TO BANK

January 21, 2019 09:29 PM

Bhopal (Face2News)

The Special Judge, CBI Cases, Bhopal has sentenced Sh. K. K. Chourasia, then Senior Manager & Sh. Vasant Pawase, then Assistant Manager (credit) of Arera Hills Branch, Central Bank of India, Bhopal, both to undergo three years Rigorous Imprisonment with fine of Rs. 8,000/- each and Sh. Uday Singh Thakur, Partner/Managing Director of M/s Pitambara Constructions & Developers, Maa Pitambara Construction and Pitambara Infrastructure Pvt. Ltd., Bhopal to undergo three years Rigorous Imprisonment with fine of Rs. 6,000/-.

Accused bank officials had processed, sanctioned and disbursed housing loan to the tune of Rs. 122.48 lakh in the name of 13 Individuals (borrowers) without verifying credentials of borrowers & also not verifying the construction work of the proposed house and allowed the siphoning off the funds meant only for its utilization in the construction of the proposed houses, thereby, caused huge loss to the bank.

CBI had registered a case U/s 120-B, 419, 420, 468 & 471 of IPC and 13(2) r/w 13(1)(d) of PC Act, 1988 on 14.01.2011, on a complaint from Regional Manager, Central Bank of India, Bhopal against K. K. Chourasia, Senior Manager, Central Bank of India; Vasant Pawase, Assistant Manager (credit) Central Bank of India, both of Arera Hills Branch, Bhopal; Uday Singh Thakur, Partner/Managing Director of M/s Pitambara Constructions & Developers, Maa Pitambara Construction, Pitambara Infrastructure Pvt. Ltd., Bhopal and other unknown persons, Bhopal.

It was alleged that during the period 2007 to 2009,. K. K. Chourasia & Vasant Pawase, both while working at Central Bank of India, Arera Hills Branch, Bhopal entered into criminal conspiracy among themselves and  Uday Singh Thakur, Partner/Managing Director of M/s Pitambara Constructions, Maa Pitambara, Pitambara Infrastructure, Bhopal and unknown others.

]In pursuance to the said criminal conspiracy, the accused bank officials had processed, sanctioned and disbursed housing loan to the tune of Rs. 122.48 lakh in the name of 13 Individuals (borrowers) without verifying credentials of borrowers & also not verifying the construction work of the proposed house and allowed the siphoning off the funds meant only for its utilization in the construction of the proposed houses, thereby, caused huge loss to the bank.

After investigation, a chargesheet was filed on 04.09.2012 in the Court of Special Judge for CBI Cases, Bhopal U/s 120-B r/w 420 of and 13(2) r/w 13(1)(d) of PC Act, 1988 against K. K. Chourasia, Sh. Vasant Pawase and Uday Singh Thakur.The Trial Court found the accused guilty and convicted them.

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