NEW DELHI: The Central Vigilance Commission (CVC) has sought action against Indian Bank CMD T M Bhasin and former ED V Ramgopal for "high-handedness, arbitrariness and manipulation" of appraisal reports of Malay Mukherjee, a general manager in the bank, with a view to deny him a promotion.
While the finance ministry has not initiated action against the two executives, the CVC has also sought action against Shreya Guha, a director in the ministry, for lapses in conducting enquiry against Bhasin and Ramgopal. For the finance ministry, this the second embarrassment in less than a month as the watchdog was critical of the role performed by the Appointments Board in recommending M O Rego for the post of IDBI Bank deputy MD.
Once again seeking regular departmental action (RDA) against the two top-raking Indian Bank executives, CVC had told the finance ministry that Mukherjee's performance for 2009 had been reviewed by the then ED A S Bhattacharya and M S Sundarrajan, who was then the CMD of the Chennai-headquartered bank. Bhasin and Ramgopal were not required to appraise Mukherjee for 2009-10 as he had not worked with the two executives.
http://timesofindia.indiatimes.com/business/india-business/CVC-seeks-action-against-Indian-bank-CMD-ex-ED/articleshow/22177194.cms
One-year rigorous imprisonment for former CMD of Indian Bank Business Line 23.05.2013
A Principal Special Judge for CBI cases here on Wednesday sentenced the former Chairman and Managing Director of the nationalised Indian Bank, M. Gopalakrishnan (77), to one year’s rigorous imprisonment (RI) and slapped a fine of Rs.1.50 lakh on him in a case relating to causing loss to the bank to the tune of Rs.3.26 crore.
The Judge, S.Malathi, also awarded one year RI to the then Zonal Manager of the bank, A.V.Shanmugasundaram, and two years RI to the Managing Director of a private construction company, S.Dhanasingh, in the case. A total fine of Rs. three lakh was imposed on the two.
The Judge suspended the jail terms for a month to enable the convicted persons to file appeals.
This is the third case in which Gopalakrishnan, against whom 20 cases were registered by the CBI in the mid-1990s, is being convicted in a corruption case. In April 2009, he was sentenced to undergo 14 years’ rigorous imprisonment by a special CBI court in Chennai. The judge awarded two seven-year terms to run one after another.
He is out on bail pending appeal.
While four cases were investigated by Anti-Corruption Branch, the others are with the Economic Offences Wing (EOW) and the Bank Security and Fraud Cell (BSFC). All the cases are charge-sheeted and pending trial, agency sources said.
Gopalakrishnan was considered close to influential political leaders during his high-profile tenure. He was prominently covered by Doordarshan almost on a daily basis in news bulletins, giving an impression to viewers that he was highly popular. However, his arrest and subsequent investigation by the CBI led to closer scrutiny of the unusually large number of high-value loans he generously sanctioned to prominent personalities.
In the latest case to end in conviction, the offence was committed between 1993 and 1995. The prosecution case was that Akilam Constructions Pvt. Ltd., Chennai, represented by its Managing Director Dhanasingh, applied to the bank’s Alwarpet branch here for a secured overdraft facility to the tune of Rs. five crore for purchasing 200 acres at Mamallapuram for developing them as farm lands and selling them. Pursuant to a conspiracy to cheat the bank, the bank branch’s Chief Manager, K. Sundaramurthy (died during course of trial), by abusing his official position forwarded the proposal to the regional office recommending sanction.
Shanmugasundaram abused his official position and sent a letter to Gopalakrishnan directly recommending the proposal the same day, August 28, 1995. The Chairman conveyed his approval for sanction without verification. Based on the sanction letter, Sundaramurthy released a temporary OD facility of Rs.3.26 crore to the construction company by accepting inadequate collateral security and disregarding the terms and conditions of sanction.
Dhanasingh, who availed himself of the credit facility of Rs.3.26 crore, diverted Rs.2.86 crore to the account of one M/s Allengar Foundation, represented by K.Anandan Pillai (who also died during the course of trial) without using the loan amount for which it was sanctioned. Pillai, in turn, used the sum to settle his dues in his account in IndBank Housing Limited.
Thus, the bank sustained a loss of Rs.3.26 crore and Dhanasingh and Anandan Pillai obtained pecuniary advantage.
The Judge held that the prosecution had established its case by adducing reliable and satisfactory evidence. As Sundaramuthy and Anandan Pillai had died, the charges against them abated.
Flattery Is the Best Qualification For Promotion
If CBI or CVC conduct investigation into entire promotion process of any bank for last ten years , it will be clear how in each process top executives commits fraud with APAR marks and how numbers are given in interview to pass or to reject an officer . Such manipulation continues and reckless and checkless fraud goes on committed with merit of officers and it is is not new in banks .
Following news can confirm this because when a General Manager can be promoted on getting one 1 out of 30 marks , one can imagine what he will do with his juniors.And fraudulently promoted officers later become number one Chamcha of bosses and become union leader too so that IR problems is not possible.In this way there is mutual understanding between union leaders and top officers of the bank and finally with ministers and top officers of Government of India
Click on following link to know about another fraud which occured in last week
Following news can confirm this because when a General Manager can be promoted on getting one 1 out of 30 marks , one can imagine what he will do with his juniors.And fraudulently promoted officers later become number one Chamcha of bosses and become union leader too so that IR problems is not possible.In this way there is mutual understanding between union leaders and top officers of the bank and finally with ministers and top officers of Government of India
Click on following link to know about another fraud which occured in last week
1 comment:
From: Veeran Madasamy
Date: Sat, Aug 31, 2013 at 1:40 PM
Subject: SUB; MIS MANAGEMENT OF UNION BANK OF INDIA 7 TO DAY STATUS
To: pstopresident@rb.nic.in
ON 31.08.2013
CBI booked one DGM , one AGM & one Chief Manager of Union Bank of India of Nagpur Regional Office for sanction of advance of Rs 300.00 lakh and the amount was not utilized for that purpose and the advance amountwas diverted to sister concern and NPA of Rs 4 58 94 771.00
ON 07.12.2009
Mr.P.Bakthavaccalu Branch manager Union Bank of India,Ennore Branch,Chennai
He sanctioned a CC Hyp limit of Rs 19.00 lakh on 19.09.2009 for mobile business Again enhanced to Rs 35.00 lakh on 15.10.2009 Again recommended and sanction of Rs 100.00 lakh by Regional Office Chennai on 07.12.2009 to a NON EXISTING BUSINESS CONCERN i e NO SUCH COMPANY
Branch and Regional Office are functioning at Chennai without verifying the company, loan of Rs 100.00 lakh sanctioned. No sale tax returns Vat,Registration and dealership.Loan amount was diverted to sister concern.Even though loan sanctioned for Videocon business,but a cheque for Rs 940636.00 passed for National Rice Trading co.
WHAT PUNISHMENT NO INQUIRY NO PUNISHMENT CENSURE due to loan amount was closed.But nobody knows how it was closed may be another poor bank takeover.
ON 27.04.2007
23 loans are sanctioned by Mr M.Royappan Branch Manager for Rs 9.00 lakh (Nearly) and I am working as in charge of VKC( village Knowledge Center) prepare voucher and crediting the loan amount in borrowers SB a/c
.Management add further charges like No pre post inspection ,bills and outsider are engaged for bank work without knowing who is the responsibility ?
In Madurai Region nearly 40 branches including Regional office also engaged
outsider due to no clerks
.But I am the only person dismissal
Management gives false statement of loan was sanctioned by me eve though
I have no power to sanction of loans
Due to stake amount of Rs 95.44 lakh in 59 a/cs.I requested the details through RTI Act 2005 but management simply says NO RECORDS ARE AVAILABLE IN OUR OFFICE. But the concerned Branch Manager says all the loans are sanctioned by M.Royappan & all the loans are closed also
.My 33 years unblemished service not taken into a/c
.During Inquiry period I promoted to scale III
During inquiry period I worked for Vigilance Dept
During inquiry period I worked as team leader for selection of new sub staff
In this regard I have sent 26 letters but no response
30 months without any sources of income I very much affected
I have no other way to file complained under SC/ST POA ACT 1989
This is the first time a officer file such complained against their own bank
Kindly help me & advise in this regard
Please advise the management to reinstate me
M.Veeran Cell no 9443944764 Email veeranm123@gmail.com
Union Bank of India Mumbai 022 -25751500 & 25719600
Enail rajanwaykul@unionbankofindia.com
Thanking you
M.Veeran
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