Former bank manager, 3 others given jail term in fraud case

A former branch manager of Central Bank of India and three others were sentenced to three years in jail by a Special CBI Court here today.
The former branch manager R S Ayer, working in the Bank's Shahpura Branch, had disbursed housing loans worth Rs 51.77 lakh in a dubious manner in connivance with four private persons, CBI sources said.
After getting a complaint in this regard, CBI registered a case against Ayer and others on March 21, 2001, for fraudulently sanctioning housing loan worth Rs 51.77 lakh.
The case was submitted for trial in the Special CBI Court which today awarded sentence to Ayer, Dharmendra Parmar, Prasad Makhija and R K Dwivedi. Another accused, Devendra Sharan Shrivastava, passed away during trial.

Ayer was awarded three years rigorous imprisonment and was also slapped a fine of Rs 1.30 lakh while the other three were awarded three years RI and imposed a fine of Rs 50,000 each, the agency sources said.