CBI had registered the instant case against Shri P. K. Singh, then Branch Manager, Nabinagar Branch, SBI, Distt- Aurangabad and others on 28.06.1991 on the basis of a complaint lodged by DGM, Vigilance, SBI, LHO, Patna
FinTech BizNews Service
Mumbai, 29 October, 2024: The Ld. Special Judge for CBI Cases, Court-1, Patna on Monday sentenced four accused persons including Sh. P.K. Singh, then Branch Manager, SBI, Nabinagar Branch Aurangabad (Bihar) to three years’ Rigorous Imprisonment (RI) with fine of Rs. 6 lakhs; Sh. Vijay Kumar Singh (Private person) & Sh. Yogendra Singh (Private person) to 3 years’ RI with fine of Rs. 1.20 lakhs each and Sh. Chandradeep Singh (Private person) to one year’s RI with fine of Rs. 60,000/- in a bank fraud case. The Court had earlier on 23.10.2024 held the accused guilty in the case.
CBI had registered the instant case against Shri P. K. Singh, then Branch Manager, Nabinagar Branch, SBI, Distt- Aurangabad and others on 28.06.1991 on the basis of a complaint lodged by DGM, Vigilance, SBI, LHO, Patna. It was alleged in the complaint that accused while functioning as Branch Manager during the period 1988-89 dishonestly abused his official position in as much as he fraudulently and dishonestly withdrew /allowed withdrawal Rs. 3,00,000/- from the accounts of different loanees without their knowledge.
Investigation disclosed that Sh. P. K. Singh functioned as Branch Manager in SBI, Nabinagar, Aurangabad in the year 1988-89 entered a criminal conspiracy with private persons S/Shri Bijay Kumar Singh, Yogendra Kumar Singh, Kameshwar Prasad Singh, Chandra Deep Singh and Jamuna Singh and cheated the bank to the tune of Rs. 3,00,000/- while sanctioning cash credit loans to different firms. Investigation further disclosed that while sanctioning cash credit loans to different firms, Sh. P. K. Singh did not follow banking norms of SBI and sanctioned loans to fictitious firms and misappropriated and /or allowed to be misappropriated the loan proceeds.
After completion of investigation, CBI filed a chargesheet against Shri P.K. Singh, then Branch Manager, SBI, Nabinagar, Distt. Aurangabad alongwith five private persons namely Sh. Bijay Kumar Singh, Sh. Yogendra Kumar Singh, Sh. Kameshwar Prasad Singh, Sh. Chandra Deep Singh and Sh. Jamuna Singh for the offence punishable on 31.08.1992. Two accused persons namely Sh. Kameshwar Prasad Singh and Sh. Jamuna Singh expired during trial. The Court held the remaining accused guilty and sentenced them accordingly.