Daijiworld Media Network – Bangalore (SP)

Bangalore, May 18: The special Central Bureau of Investigation (CBI) court here has sentenced two former employees of State Bank of India (SBI) to three years of imprisonment, besides imposing a fine of Rs 2.2 lac each.

While the then manager of the branch, K Manjunath, and deputy manager, H S Ganaathi, have been found to be guilty of criminal conspiracy and some provisions of the Prevention of Corruption Act, Gangadhar Sharma and S K Shetty of Eashwari Marketing, have also been found guilty. Sharma and Shetty have also been ordered to pay a fine of Rs 2.2 lac each.

The bank officials were charged with extending cheque discounting facility to the tune of Rs 82.73 lac to Eshwari Marketing, although the firm did not have enough balance in its account. Sharma owned the concern. A total of 183 cheques issued by the said firm and presented by Sharma had been discounted by the above bank officials between July 4, 2003 and October 31, 2003, the CBI charge sheet had said.

In extending the cheque discounting facility, both the SBI officers had exceeded their powers. Their act had caused a loss of Rs 82.73 lac to SBI, while the accused had gained benefit out of it, CBI had said.