Amritsar: A local court on Thursday awarded a five-year jail term to a former managing director (MD) of Central Cooperative bank here for amassing disproportionate wealth and accepting bribe while recruiting staff.
Additional Sessions judge Navjot Sohal also slapped a fine of Rs 80,000 on former Amritsar Central Cooperative Bank MD Surinderpal Singh Chhina, who was held guilty of the charges on January 20.
A case was registered against Chhina at Kotwali police station here on April 12 in 2002 on charges of corrupt practices and amassing disproportionate wealth.
There were allegations of corruption against Chhina for appointing bank staff including eight accountants, 14 entry clerks, 50 watchmen and peons during his tenure as MD between the period of 1996 to 2002.
Chhina had misappropriated and mis-utilised funds of the bank in an illegal manner and had also received illegal gratification for employment of various persons to different posts in the bank, while he was posted as MD of the bank, the prosecution said.