Mysuru: A former State Bank of India (SBI) chief manager has been sentenced to one year in prison for illegally withdrawing Rs 61.57 lakh from two bank accounts, including that of a customer who had died several years earlier.
The First Additional Chief Judicial Magistrate’s Court in Mysuru convicted A.V. Kulkarni alias Aniruddha Vasantrao Kulkarni under Section 409 of the Indian Penal Code. The provision relates to criminal breach of trust by a banker, public servant, merchant or agent.
The court also ordered Kulkarni to pay a fine of Rs 50,000. Of this amount, Rs 40,000 will be given to SBI as compensation, as reported by NDTV.
Money Withdrawn From Two Accounts
Kulkarni was heading the bank’s Chamundipuram branch when the offences allegedly took place between May 2009 and December 2011.
The prosecution said Rs 40.53 lakh was taken from the account of Krishna Iyer, who had died in April 2005. This besides, another amount of Rs 21.04 lakh was allegedly siphoned off from an internal account of the bank.
Investigators found that the funds had been routed to accounts belonging to Kulkarni and his son. The money was subsequently withdrawn from those accounts, according to the case records.
The irregularities surfaced during an audit and internal inquiry by senior SBI officials. Kulkarni reportedly acknowledged the withdrawals during the inquiry and later deposited nearly Rs 62 lakh back into the bank.
Court Verdict
The bank subsequently approached the police, following which a case was registered in Mysuru. Investigators later submitted a charge sheet against Kulkarni.
After considering the prosecution evidence and the defence arguments, Judge V. Prakash found the former bank official guilty. The court pronounced the sentence on September 25, ordering him to undergo one year of rigorous imprisonment in addition to paying the fine.
