4-9.It is the allegation against the 3rd accused/petitioner herein that in pursuance of the aforesaid criminal conspiracy, the 3rd accused, while working as Branch Manager at Muthialpet Brnach of Indian bank, during the period from December 1988 to July 1991, by corrupt/illegal means, by abusing his position as public servant, went on submitting proposal/notes, recommending the sanction/renewal of various credit limits, for confirmation and ratification of the actions of the Branch and permitting the Branch to release credit facilities in favour of M/s.MCR Exports Pvt Ltd and M/s.Maxwell Exim Pvt Ltd, disregarding banking norms, violating RBI guidelines and at times against the directions of the Board of Directors of the Bank. It is further alleged that the petitioner/A3 failed to protect the interests of the Bank, by not ensuring the proper use of the funds. The 3rd accused/Petitioner herein, as the Head of the Muthialpet Branch, failed to ensure that the proposal submitted by the parties, were in line with the circulars/instructions issued by the Bank, before forwarding them for the consideration of his higher authorities. Thus, he has committed the offfence punishable under Section 420 r/w 120B IPC and Section 13(2) r/w 13(1)(c)(d) of the Prevention of Corruption Act, 1988.
