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Chennai CBI Court Convicts Firm, Six in Bank Fraud
A company and six people were convicted in a case about cheating a bank.
The bank said it lost Rs 2.68 crore.
Prosecutors alleged that the accused used fake documents to obtain credit facilities.
They also alleged that the money was diverted or misused.
S. Amurudheen was sentenced to two years in prison.
Five other people received six-month prison sentences.
The company and the convicted individuals were also fined.
Four other accused died during the trial, while two were acquitted and one was discharged.
A Chennai special CBI court convicted Jailani Steel Traders and six individuals in a Rs 2.68 crore bank fraud case.
S. Amurudheen received two years of rigorous imprisonment, while five others received six months each.
The court fined Jailani Steel Traders Rs 20,000 and the six individuals a total of Rs 60,000.
The CBI alleged that false documents were used to obtain credit facilities and misappropriate United Bank of India funds.
Four accused died during the trial, while two were acquitted and one was discharged.
- Who
- Jailani Steel Traders and six individuals: S. Amurudheen, L. Vijayalakshmi, M. Shanthi, S. Kamatshi, M. Sivakumar, and M. Ravichandran Babu.
- What
- They were convicted in a bank fraud case involving an alleged loss of Rs 2.68 crore.
- Where
- A special CBI court in Chennai.
- When
- The CBI registered the case on April 21, 2008; it filed the charge sheet on June 23, 2009, and the verdict was delivered on Monday, nearly 18 years after the investigation began.
- Why
- The prosecution alleged that the accused used false and fabricated documents to obtain credit facilities, diverted or misappropriated funds, and caused a loss to the bank.
Key facts
- Bank
- United Bank of India
- Alleged loss
- Rs 2.68 crore
- Case registered
- April 21, 2008
- Charge sheet filed
- June 23, 2009, against the firm and 13 individuals
- Prison sentences
- S. Amurudheen: two years; five others: six months each
- Fines
- Rs 20,000 for the firm and Rs 60,000 collectively for the six convicted individuals
- Other case outcomes
- Four accused died during the trial; S.R. Gnanasekar and M. Chakravarthy were acquitted; P.B. Sampath Kumar was discharged
Quotes
CBI spokesperson
Official spokesperson for the Central Bureau of Investigation
“The court has imposed a fine of Rs 20,000 on Jailani Steel Traders. S Amurudheen has been sentenced to rigorous imprisonment for two years; L Vijayalakshmi, M Shanthi, S Kamatshi, M Sivakumar and M Ravichandran Babu have been sentenced to rigorous imprisonment for six months. A total fine of Rs 60,000 has been imposed on the six accused persons.”
theprint.in
Sources
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