A magistrate’s court here on Friday sentenced Congress MLA and former Maharashtra minister Sunil Kedar to five years’ imprisonment for misappropriation of funds at the Nagpur District Central Cooperative Bank (NDCCB).
Additional Chief Judicial Magistrate J V Pekhle-Purkar pronounced judgement in the case which dates back to 2002. Among other provisions, Kedar was held guilty under Indian Penal Code section 409 (criminal breach of trust by a public servant).
As per the prosecution, the NDCCB lost Rs 125 crore in government securities in 2002 as rules were flouted while investing funds through Home Trade Securities, an investment firm. Kedar was then chairman of the bank.
Additional Chief Judicial Magistrate J V Pekhle-Purkar pronounced judgement in the case which dates back to 2002. Among other provisions, Kedar was held guilty under Indian Penal Code section 409 (criminal breach of trust by a public servant).
As per the prosecution, the NDCCB lost Rs 125 crore in government securities in 2002 as rules were flouted while investing funds through Home Trade Securities, an investment firm. Kedar was then chairman of the bank.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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