Chennai: Anti-corruption wing sleuths of CBI, Chennai have started a probe against a former Canara Bank manager in Coimbatore district for allegedly sanctioning a total of Rs 9.8 crore loans to 106 fictitious people for 'buying power looms' and diverting the fund for his personal use a swell as that of six other agents.
The CBI registered a case against G.Ramachandran, former Canara Bank manager of Samalapuram branch in Coimbatore and others under various IPC section for cheating, criminal breach of trust, forgery beside abuse of official position by the public servant along with sections of prevention of corruption act.
According to CBI, Ramachandran, while serving as manager of the said branch between 2013 and 2016, entered into a criminal conspiracy with agents like Paramasivam, Angesswaran, Selvam, Kandaswamy, Sofia and Tamilarasi and disbursed loans with the mala fide intention of diverting the money to their personal use and thereby causing a wrongful loss of Rs 9.83 crore.
CBI initiated the probe based on a complaint from TV Duraipandi, deputy general manager, Circle office, Canara Bank, Chennai. The complaint notes that Ramachandran was maintaining a joint account with his daughter in the bank and huge amount of cash was deposited in the account. He had indulged in serious irregularities and caused huge loss to the bank, the complaint further noted.
