MUMBAI: A special court has convicted two former bank officials for cheating, criminal breach of trust and misappropriation of public funds in the 1992 Harshad Mehta stock market scam after observing that the accused persons’ acts can be termed as ‘anti-national’.
The court sentenced MS Srinivasan, the then Chief Manager of Funds Management Cell of the State Bank of Saurashtra and R Sitaraman who was then bank officer in the securities division of State Bank of India, to four years rigorous imprisonment and also directed them to pay a Rs 5 crore each as compensation.
