<p>The CBI has opposed discharging a former Corporation Bank Manager from a criminal case against him for causing a Rs.1.04 crore loss to the bank in collusion with some people, including 11 doctors, and granting them loans to buy medical equipment that were not procured.<br /><br /></p>.<p>Special Public Prosecutor S. Rozzario Sundararaj, in a counter-affidavit filed in the High Court bench here, said the case was registered against one K.P. Kumar alias Veerkumar of Chennai on Apr18,2008 on the basis of a complaint given by the bank’s Deputy General Manager(Zonal Office-Chennai).<br /><br />Kumar had sanctioned 16 medical equipment loans to 11 doctors between 2004 and 2008. The loan amounts were handed over to two private firms which withdrew the money and shared it with the co-accused, including the doctors, instead of delivering the medical equipment as per the loan agreement.<br /><br />Investigation revealed that the loans were sanctioned on the basis of fake documents.Kumar failed to conduct post sanction inspection of the equipment despite knowing that they were never purchased at all.The doctors did not repay the loan amount, the affidavit said.<br /><br />The invoices did not contain details about the equipment for which the loans were sanctioned and concocted bills were submitted to the bank as part of the crime,the CBI said, adding, two of the accused had turned approvers and confessed to having been part of the conspiracy.</p>
<p>The CBI has opposed discharging a former Corporation Bank Manager from a criminal case against him for causing a Rs.1.04 crore loss to the bank in collusion with some people, including 11 doctors, and granting them loans to buy medical equipment that were not procured.<br /><br /></p>.<p>Special Public Prosecutor S. Rozzario Sundararaj, in a counter-affidavit filed in the High Court bench here, said the case was registered against one K.P. Kumar alias Veerkumar of Chennai on Apr18,2008 on the basis of a complaint given by the bank’s Deputy General Manager(Zonal Office-Chennai).<br /><br />Kumar had sanctioned 16 medical equipment loans to 11 doctors between 2004 and 2008. The loan amounts were handed over to two private firms which withdrew the money and shared it with the co-accused, including the doctors, instead of delivering the medical equipment as per the loan agreement.<br /><br />Investigation revealed that the loans were sanctioned on the basis of fake documents.Kumar failed to conduct post sanction inspection of the equipment despite knowing that they were never purchased at all.The doctors did not repay the loan amount, the affidavit said.<br /><br />The invoices did not contain details about the equipment for which the loans were sanctioned and concocted bills were submitted to the bank as part of the crime,the CBI said, adding, two of the accused had turned approvers and confessed to having been part of the conspiracy.</p>