CBI Registers Case Against Bank Manager, 3 Others For Cheating

CBI Registers Case Against Bank Manager, 3 Others For Cheating Dated : 19-02-2009 Source : Bureau Report New Delhi : TEXT : The CBI has registered a case against a former manager of State Bank of India based in Chennai along with three businessmen for allegedly cheating the bank to the tune of Rs six crore. The case was registered against S Durai, former SBI manager at Saligramam, Chennai, along with Reedhana, Chairman and CEO of Chennai-based Montis Aviation Academy and Reefas Aviation Consultants, a CBI spokesperson said. Other accused in the case are K Thiyagarajan, proprietor of Chennai Trading Corporation and P Arunraj of Universal Associates Foods and Beverages. The CBI said the accused persons along with some others allegedly hatched a criminal conspiracy with Durai and some other unknown officials of the bank last year and cheated the bank to the tune of Rs six crore. "They committed criminal breach of trust, criminal misconduct and sanctioned fraudulent loans exceeding the financial powers of the branch manager using forged documents as genuine and releasing the demand loan proceeds sanctioned in the name of the University of Madras to private persons against bank deposits of the University of Madras," the spokesperson said. He said searches were conducted on the official and residential premises of the accused persons at Chennai which led to the recovery of incriminating documents.

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