The Special Judge for CBI cases, Bangalore, has convicted P N Upadhyay, the then manager of the bank''s branch in Panambur, Mangalore, and sentenced him to imprisonment of one year and eight months with a fine of Rs 20,000, a CBI spokesperson said.
As per the CBI investigation, Upadhyaya had allowed six persons to open various current accounts and also allowed temporary overdrafts beyond his discretionary powers in these accounts.
"He sanctioned overdrafts which were outstanding in the bank books in violation of the laid down norms of the bank resulting in loss to the extent of Rs. 1.51 crore to the bank," the official said.
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