Bogus Loan: Bank Manager & Proprietor booked for 5 years for causing Bank Loss

Bogus Loan: Bank Manager & Proprietor booked for 5 years for causing Bank Loss Shri Debatosh Chanda, then Branch Manager, Bank of Maharashtra, New Alipore Branch, Kolkata, was sentenced to five years simple imprisonment with a fine of Rs.57,000/- and Sh. Indrajit Chatterjee, Proprietor of M/s Chatterjee Exports, Lower Range, Kolkata, was sentenced to five years simple imprisonment with a fine of Rs.51,000/- by the Special Judge, CBI Cases, Alipore (West Bengal). The CBI had filed a case against the accused on November 8, 2001, alleging that the accused participated in a conspiracy and that the Branch Manager of Bank of Maharashtra, in furtherance of the conspiracy, allowed the said private person to obtain Rs.12 lakh by creating a bogus loan account without the execution of any documents. The Bank allegedly suffered a loss of Rs.12 lakh (approximately). After an inquiry, a charge-sheet was filed against the defendants on November 27, 2002 at the Court of Special Judge, Alipore. The defendants were found guilty and convicted by the Trial Court.