Dynamite News Tamil Nadu: CBI court sentences 3-year RI and fine to six accused in bank fraud of Rs.3.72cr in Chennai
A CBI court has convicted and sentenced six people to three years Rigorous Imprisonment in connection with the Rs 3.72 crore bank fraud case. Read further on Dynamite News:
Chennai: A CBI court has convicted and sentenced six people to three years Rigorous Imprisonment in connection with the Rs 3.72 crore bank fraud case.
The convicts include T.Kumararaja, T.Ashokan, V.Anandan, R.Ramachandran, T.Manishankar and S.Srinivasan to undergo three years Rigorous Imprisonment.
Also Read |
AIADMK 'united' again: OPS swears in Tamil Nadu Dy Chief Minister
The Court also imposed a fine of Rs.40,000 each on them, besides a fine of Rs.three crore on M/s A.G.K. Packers and also ordered to pay it to IDBI Bank, Chennai as compensation.
The CBI had registered a case on the complaint from IDBI, City MSME Centre on June 15, 2012 against M/s A.G.K. Packers represented by its Managing Partner Kumararaja and his brother Ashokan (Partner of the private company).
Also Read |
TN bus strike ends, normalcy restored
It was alleged that during the year 2009, the accused availed various credit facilities to the tune of Rs.three crore from the bank by submitting false, fabricated and forged documents as collateral security, diverted the funds to their personal use and failed to repay the loan.
A loss of Rs.3.72 crore was caused to IDBI bank. After investigation, the CBI filed the chargesheet before the Chief Judicial Magistrate, Trichy on June 5, 2013 against the accused. The Trial Court found the said accused guilty and convicted them. (with ANI inputs)