Jammu, June 30 (IANS) A Special CBI Court in Jammu sentenced a former senior manager of Central Bank of India and another convict to one year imprisonment with a fine of Rs 20,000 each in a housing loan fraud, said an official on Tuesday.

Rajinder Koul, Senior Manager, Central Bank of India (now dismissed from service) and private person Sham Sunder Aggarwal were booked by the federal probe agency for irregularities in disbursement of housing loans, the CBI said.

Koul was posted at Central Bank of India’s Talab Tillo Branch in Jammu when housing loans based on fake and forged documents were disbursed to applicants, the CBI said.

After completing an investigation into the complaint filed by Koul’s seniors, the CBI filed a chargesheet in the case on September 22, 2007.

The Special CBI Court, after the trial, convicted Koul and Aggarwal on Monday and sentenced them on Tuesday, the CBI said.

In a separate case related to home loan fraud, a Special CBI Court in Chennai sentenced a former senior bank official and a private company chief to seven years of rigorous imprisonment, the CBI said.

The case involved the fraudulent sanctioning and disbursement of housing loans, resulting in a loss of more than Rs 5.29 crore to the Central Bank of India, it said.

The court also slapped a fine on the private firm in connection with the case.

The court on Monday convicted and sentenced Deepak V Menon, then Senior Manager of the Central Bank of India’s Triplicane branch in Chennai, to seven years of rigorous imprisonment along with a fine of Rs 65,000.

The court also sentenced B. Sivaganesan, Chief Managing Director of Sree Sasthru Associates Kadanthetti Pvt Ltd, to seven years of rigorous imprisonment and imposed a fine of Rs 1.17 lakh. The company was also fined Rs 26,000 in the case.

The case was registered by the CBI on April 29, 2009, following a complaint from the Central Bank of India. In the complaint, it was alleged that 28 housing loans were fraudulently sanctioned and disbursed between 2006 and 2007 on the basis of forged and fabricated documents.

–IANS

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