Kulkarni who was the branch manager, had sanctioned 16 warehouse receipt loans, given generally to planters /growers/farmers, to 20 employees of Best Coffee Curing Works Private Limited. The Court also convicted the employees in the case.
The court has awarded simple imprisonment (two years) and a fine of Rs 12.75 lakh and an additional six months simple imprisonment in case they fail to pay the fine.
Published 12 October 2010, 17:02 IST