IOB officials get 2-year jail term in bribe case

The special Judge for CBI cases, Madurai, today convicted a senior manager and a jewel appraiser working for Indian Overseas Bank (IOB) for two years of rigorous imprisonment in a trap case filed by the CBI.

Accused, GR Nagarajan, senior manager, IOB - Kalaiyar Koil branch, and A Chandran, jewel appraiser, have been convicted by the CBI.

According to a CBI statement, its anti-corruption branch, Chennai, had registered a case in crime No RC 37(A)/2009 against GR Nagarajan (A1),based on the complaint that he had demanded a bribe of Rs 100,000 from the complainant for sanctioning a loan of Rs 10,00,000 under the Prime Minister Employment Generation Programme, to be given through A Chandran (A2), jewel appraiser of the bank.

After registration of the case, a trap was laid out by the CBI, and during the trap proceedings, A Chandran (A2), was caught red-handed while accepting a bribe of Rs 50,000 towards first instalment of the demanded bribe of Rs 100,000 on behalf of Nagarajan.

After investigation of the case, a charge sheet was filed by the CBI against the accused under the Prevention of Corruption Act, 1988.

On completion of trial, the accused were convicted and sentenced to rigorous imprisonment of two years. A fine of Rs 75,000 has been imposed on each of them.