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SBI manager gets 2-yr jail

Published: 12th May 2016 03:48 AM  |   Last Updated: 12th May 2016 03:49 AM   |  A+A-

KOCHI: The CBI court here on Wednesday handed down two years’ imprisonment to a branch manager of the State Bank of India (SBI) over his role in sanctioning housing loan to a person which was later diverted for purchasing property in Pattambi in 2007.

Banker R D Namboodiry, 48, of Peramangalam was also ordered to   pay  a fine of Rs  40,000 by presiding judge S Santhosh Kumar.  Besides, the CBI court sentenced K P Ibrahimkutty 51, Pullassery Palakkad, Abdul Rasheed, 42, of Angadipuram Pattambi and his wife Suhara, 31, to a jail term of one year plus a fine of Rs 20,000 each. The court, however, acquitted Usman, 35, of Pullassery, who was the third accused in the case.

According to the prosecution case, Namboodiry while serving as manager in the SBI’s Pattambi branch from September 10, 2005-June 12, 2006 had befriended Ibrahimkutty, who introduced him to Abdul Rasheed and Suhara.

Abdul Rasheed later applied for a housing loan and Rs 31.36 lakh was sanctioned on January 13, 2006. However, the money was used to purchase property and SBI Blue Chip worth Rs 99,750.



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