SBI official convicted in misappropriation case - India News and Travel Times Provides India-centric and other News and Features

The Special Judge for Central Bureau of Investigation (CBI) cases in Haryana's Ambala District has convicted Lokesh Sharma, former State Bank of India (SBI) Chief Manager, Sector-16, Panchkula (Haryana), and Vijay Kumar, a private person for causing loss of Rs 2.75 lakh to the bank. Accused Lokesh Sharma was sentenced to undergo Rigorous Imprisonment (RI) for three years with a fine of Rs.30, 000 under section 120-B, 420, 467, 468, 471 of Indian Penal Code and 13(2) r/w 13(1)(d) of P.C.Act 1988 and accused Vijay Kumar was sentenced to undergo Rigorous Imprisonment (RI) for three years with fine of Rs.25, 000 under section 120-B, 420, 467, 468, 471 of IPC. It is alleged that Lokesh Sharma and others entered into a criminal conspiracy and defrauded the bank by sanctioning a loan of Rs.2.75 lakhs on the basis of false and forged documents. After investigation, a charge sheet was filed on December 17, 2004 in the Court of Special Judge, Ambala against Lokesh Sharma and Vijay Kumar. Charges were framed on April 4, 2005 and the court found both the accused guilty and convicted them.