Hyderabad

Seven-year jail for former PNB manager charged with graft

Court imposes ₹25 lakh fine on convict, who acquired 8 house sites, flat, farmland

A local court here sentenced a former branch manager of Punjab National Bank to seven years of rigorous imprisonment on Wednesday, holding him guilty of amassing wealth illegally.

The Principle Special Judge for CBI Cases, Hyderabad, also imposed a fine of ₹25 lakh on the convict, Bora Satya Rao, and ordered that an amount of ₹1.34 crore be forfeited from him and deposited to the Union of India.

If the convict fails to deposit the amount, his immovable properties should be sold and the sale proceeds deposited to the government, the court said. The fine amount of ₹25 lakh should also be appropriated through the surplus money acquired after sale of his assets, as per the order.

The court directed that the convict should undergo simple imprisonment of one year if he fails to pay the fine.

Central Bureau of Investigation (CBI) sleuths registered a case of corruption against the convict nearly seven years ago on charge of acquiring properties disproportionate to his known sources of income.

Rao was working as branch manager of PNB’s R.P. Road branch then.

Disproportionate assets

During investigation, the CBI found that he acquired eight house sites, agricultural land, a flat and bank balances on his name and those of his family members.

The investigators filed charge-sheet on June 29, 2013.

During trial, the court examined 44 witnesses and perused 305 documents.

The CBI officials appealed to people to contact them on phone nos 040 24732763 or 90102 99553 to complain about corruption in Central government departments, Public Sector Undertakings, banks, insurance companies of Rayalaseema region in Andhra Pradesh and Telangana.

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Printable version | Apr 10, 2020 9:06:26 AM | https://www.thehindu.com/news/cities/Hyderabad/seven-year-jail-for-former-pnb-manager-charged-with-graft/article23437273.ece

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