Bank Officer Punished With fine And Imprisonment

FOR INFORMATION TO ALL UNIONITES: FIVE YEARS RIGOROUS IMPRISONMENT WITH FINE OF Rs. 16.50 LAKHS TO THEN SENIOR MANAGER OF UNION BANK OF INDIA FOR CAUSING LOSS OF Rs. 16.13 LAKHS
New Delhi , 01.05.2014

The Special Judge for CBI cases, Indore has convicted Shri Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore and Smt. Preeti Malviya (Private person) for misappropriation of Rs. 16.13 Lakhs. Shri Anil Yadav was sentenced to undergo five years RigorousImprisonment with fine of Rs. 16.50 Lakhs while Smt. Preeti Malviya to undergo two years Rigorous Imprisonment with fine of Rs.10,000/-.

CBI had registered a case on 17/03/2010 against Shri Anil Yadav, then Senior Manager, Service Branch, Union Bank of India, Indore and unknown officers U/s 120-B, 409, 477-A of IPC and Section 13(2) r/w 13(1)(c) & (d) of PC Act, 1988 on the basis of complaint filed by Chief Vigilance Officer, Union Bank of India, Central Office, Union Bank Bhawan, Mumbai on the allegations that Shri Anil Yadav fraudulently debited accounts of various customers in the name of Cheque returning charges and fraudulently credited into Saving Bank account maintained at M.G. Road, Branch, Union Bank of India, Indore in the name of M/s. Preeti Malviya. 

Thereafter, withdrawals from the said accounts had been done through ATM, cash withdrawals, payment in the name of Bajaj Alianz, Indore Development Authority (IDA) etc. For all the said fraudulent transactions, Shri Anil Yadav had used his own ID either for making entry or the verification of the said transactions by using CCS Powers, whereas the transactions should had been effected by concerned branch officials. Shri Anil Yadav unauthorizedly used the ID and Passwords of other officials of the branch besides his own ID for entering and or verifying the fraudulent transactions. Shri Anil Yadav defrauded the Bank to the tune of Rs. 16.25 Lakhs (approx).

After thorough investigation, a chargesheet U/s 120-B r/w 409, 420, 477-A of IPC and U/s Sec. 13(2) r/w 13(1) (c) & (d) of PC Act. 1988 against Shri Anil Yadav and Ms. Priti Malviya was filed on 31/10/2011 in the Court of Special Judge for CBI Cases, Indore on the misappropriation of Rs. 16, 13,400/-(approx).

The Trial Court found both the accused guilty and convicted them.