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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%