Court convicts Bank manager, 20 others

The court  sentenced all the accused persons to  undergo two years imprisonment with a total fine of Rs. 12.75 lakh.

Conspiracy

According to the CBI, the allegation was that  Kulkarni, the then Branch Manager, Corporation Bank, Hassan Branch during the year 2001 conspired with other accused persons and sanctioned 16 Ware House receipt loans, causing a loss of Rs 75.60 Lakhs to the Bank.

These loans are normally sanctioned to the planters, growers and traders of coffee but the Loans were sanctioned to the employees of M/s Best Coffee Curing Works Pvt. Ltd., Hassan on the basis of” forged documents.”,  the CBI officials said.  

Accused guilty

After completion of investigation, CBI filed a chargesheet against  Kulkarni and 20 other private persons under  various sections of the IPC involving cheating, forgery and fraud.   The trial court found the accused persons guilty and convicted them, the investigating agency said.