Supreme Court acquits Indian Bank manager, calls CBI case 'fabricated'

The case involves a criminal appeal by V. Balakrishnan, a former Branch Manager of Indian Bank, challenging his conviction for loan fraud and corruption. The Supreme Court reviewed whether the prosecution proved that he illegally sanctioned loans to two individuals, which were allegedly appropriated by a third party.

Appellant: V. Balakrishnan (A1); Respondent: State Rep by the Deputy Superintendent of Police; Bench: Justice K. Vinod Chandran.

• Set aside the orders of the Trial Court and the High Court.
• Granted a clean acquittal to the appellant (A1).
• Ordered the immediate release of the appellant if in custody, or cancellation of bail bonds if already released.
• Called for a report from the Branch Manager of Indian Bank, Anna Nagar Branch, regarding the loan accounts and the utilization of excess money received from property auctions.
• Directed the production of title deeds of the mortgaged properties before the Court.
• Directed the Registry to issue a copy of the judgment to the Branch Manager and ensure compliance.

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