Fraud case: Bank manager, trader get five-year jail term

A special Judge for CBI cases in Alipore has handed down five years of simple imprisonment to Debatosh Chanda, then branch manager of Bank of Maharashtra, New Alipore Branch, Kolkata, and Indrajit Chatterjee, Proprietor of Chatterjee Exports, Lower Range, Kolkata, for conniving and causing a loss to the bank to the tune of Rs.12 lakh in 2011.

The Judge also slapped Rs.57,000 and Rs.51,000 fines on Chanda and Chatterjee, respectively.

The CBI had on November 8, 2011 registered a case against both the accused for hatching a conspiracy wherein the branch manager allowed Chatterjee to avail a loan of Rs.12 lakh by creating a bogus loan account without execution of any document.

After the investigation, the CBI had on November 27, 2002 filed a chargesheet against the accused in the court of the Special Judge.