The Special Judge for CBI Cases has convicted Shri R.Shivakumar, the then Manager, UCO Bank, Davangere Branch (Karnataka) and 7 others for causing loss of Rs.85.20 lakhs to the UCO Bank. All the accused persons were sentenced to undergo Simple Imprisonment for one year with a fine of Rs.1,65,000/-.
The CBI had filed a charge sheet after completion of investigation against Shri R.Shivakumar, the then Manager, UCO Bank, Davangere Branch (Karnataka) and 8 others U/s 120-B r/w 420, 468, 471, 411A IPC and Section 13(2) r/w 13(1)(c) & (d) of the Prevention of Corruption Act, 1988. The allegations as per the charge sheet were that Shri R.Shivakumar had entered into a criminal conspiracy during the year 2003-2004 with the other accused persons in the matter of sanction and disbursal of various loans without observing the banking norms. A loss of Rs.85.20 lakh was caused to UCO Bank.
The Trial Court found the Manager and seven other accused guilty of offence and convicted them. Case against one accused abated as he died during trial.
CBI Press Release
New Delhi , 12-07-2011
Hang them all those who are running after money by under hand. / bribe etc . well done by CBI. and all regulatory (s)
Try to be honest and advise other to be honest. GOD has given all of its creatures to have some food, may not be as like as king.
Thanks to ALL .
CA. Subhash Chandra Podder
16/11/2011