Ex-bank manager and pvt business owner gets five years in prison for loan fraud

Ex-bank manager and pvt business owner gets five years in prison for loan fraud

CBI had registered a case on November 8, 2001, against the accused on the allegations that the accused entered into a conspiracy and in furtherance to the said conspiracy, the Branch Manager, Bank of Maharashtra, allowed the said private person to avail Rs 12 lakh by way of creating a bogus loan account without execution of any document. An alleged loss of Rs 12 lakh (approx) was caused to Bank. After investigation, a chargesheet was filed on November 27, 2002, in the Court of Special Judge, Alipore against the accused. The Trial Court found the accused guilty and convicted them.

A CBI court in Kolkata sentenced a former Bank of Maharashtra branch manager and the owner of a private enterprise to five years in prison for loan fraud and caused the bank to lose money. Debatosh Chanda, the then-Branch Manager of the Bank of Maharashtra in Kolkata’s New Alipore Branch, was convicted to five years in prison and fined Rs 57,000. Indrajit Chatterjee, the owner of M/s Chatterjee Exports in Kolkata’s Lower Range, was also sentenced to five years in prison and a fine of Rs 51,000.

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