10 YEARS RIGOROUS IMPRISONMENT WITH FINE OF Rs. 24 LAKH TO THEN BRANCH MANAGER AND THREE YEARS RI TO A PRIVATE PERSON FOR CAUSING LOSS OF Rs. 2.56 CRORE (APPROX.) TO BANK OF MAHARASHTRA


 

Press Release
New Delhi, 20.02.2020

The Special Judge for CBI Cases, Pune has sentenced Shri Shaliwahan Solegaonkar, then Branch Manager, Bank of Maharashtra, Pune to undergo 10 years Rigorous Imprisonment with total fine of Rs. 24 lakh. Shri Rakesh Jadhav, a private person was sentenced to undergo 03 years Rigorous Imprisonment with fine of Rs. 10,000/- each under Section 120-B of IPC r/w 409 of P.C. Act, 1988.

CBI had registered a case on 28.06.2018 on the allegations that during the period 2009 to 2017, Shri Shaliwahan Solegaonkar, Branch Manager in 5 different Branches of Bank of Maharashtra at Pune, entered into criminal conspiracy with a private person Shri Rakesh Jadhav and other unknown persons. In pursuance of the said conspiracy both the accused fraudulently misappropriated total amount of Rs.2,56,15,998/- (approx.) from the bank's funds. It was also revealed that Shri Shaliwahan Solegaonkar while posted in different capacities, viz., as Clerk, Dy. Manager at Sahakar Nagar Branch; as Dy. Manager at Lavale & Lasurne branches; as Manager at Hadapsar Industrial Estate and Talegaon Dhamdhere branches transferred various amounts from Bank General Ledger (BGL) account to a Savings Account opened in the name of Shri Rakesh Jadhav (private person) which was maintained at Sahakar Nagar Branch of Bank of Maharashtra at Pune. Thereafter, Shri Shaliwahan Solegaonkar transferred the said amounts from the account of Shri Rakesh Jadhav to his own Savings Bank Accounts maintained at Vadgaon Budruk Branch and Sahakarnagar Branch of Bank of Maharashtra, respectively and thereby misappropriated a total amount of Rs.2,56,15,998/- (approx.), which was entrusted to him as banker.

After investigation, 5 charge sheets were filed before the Special Judge, CBI Cases, Pune on 20.12.2018 & 26.12.2018, under Sections 120-B of IPC r/w 409 and under Section 13(2) r/w 13(1)(d) of P.C. Act, 1988 against the accused.

The Trial Court found the accused guilty and convicted them.

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