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Bank official, man sentenced to 3 yr for cheating, forgery

Last Updated: Wednesday, October 10, 2012 - 21:03

New Delhi: A Delhi court has sentenced a nationalised bank`s senior officer and another man to three years of imprisonment for cheating and causing a loss of Rs 15 lakh to the bank by sanctioning a loan without proper verification.

District Judge P S Teji awarded the sentence to P S Kudwa, who was the then senior manager in a Corporation Bank branch here, and Dr Pankaj Kumar Prasad, proprietor of a private hospital here, and also imposed a fine of Rs 45,000 and Rs 60,000 respectively.

"The prosecution had been able to prove that both the accused had entered into a criminal conspiracy the common object of which was to cheat the bank by committing forgery and fabrication in the documents and using the same as genuine," the court said.

According to CBI, a complaint was filed by the DGM of Corporation Bank alleging fraud done by Kudwa in giving loans.
CBI alleged that apart from other home loans, Kudwa had sanctioned meditech loan to Prasad for purchasing medical equipments worth Rs 15 lakh. Prasad had submitted the sale deed of properties at Noida to be mortgaged as collateral security to the loan, it said.


First Published: Wednesday, October 10, 2012 - 21:02

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