Kolkata: 5 years jail to ex-bank manager, pvt firm owner for loan fraud

Kolkata (West Bengal) [India], May 9 : A CBI court in Kolkata sentenced a former Branch Manager of the Bank of Maharashtra in Kolkata and a proprietor of A private firm to five years imprisonment for loan fraud and causing loss to the bank.
Debatosh Chanda, then Branch Manager, Bank of Maharashtra, New Alipore Branch, Kolkata has been sentenced to five years imprisonment with a fine of Rs 57,000. Further, Indrajit Chatterjee, proprietor of M/s Chatterjee Exports, Lower Range, Kolkata, has been sentenced to five years imprisonment with a fine of Rs 51,000.
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.