A chief manager of the State Bank of India has been sentenced to three years' rigorous imprisonment along with another person for causing a loss of Rs.2.75 lakh to the bank.
The Special Judge for CBI cases (Ambala) convicted Lokesh Sharma, the then Chief Manager of SBI's Panchkula Sector 16 branch, and Vijay Kumar for causing loss to the bank.
While Sharma was sentenced to rigorous imprisonment of three years with a fine of Rs.30,000, Kumar was given a similar jail sentence with a fine of Rs.25,000.
The CBI had alleged in its charge sheet filed on February 25, 2004, that Sharma entered into a criminal conspiracy and defrauded the bank by sanctioning a loan of Rs.2.75 lakh on the basis of false and forged documents. - PTI