The Special Judge for CBI Cases, Chennai, has convicted and sentenced four Indian bank officials to three years Rigorous imprisonment (RI) and a couple to 37 months RI for cheating the bank to the tune of Rs 39.18 crore.
A CBI release here said those convicted were Aziz, then Chief Manager, G.V. Srinivasan, then Senior Manager, Muthiah, then Senior Manager and S. Arunachalam, then General Manager, of Indian bank and Ranjiv Batra and his wife Kiran Batra, Directors of M/s. Kiran Overseas Limited–both residents of Chennai.
The Court also imposed a fine of Rs 10,000 each against all the accused and on the company.
The CBI had registered a case on complaint from Indian Bank against the accused on the allegations that the accused including Kiran Overseas Ltd
and its Directors; officials of Indian Bank and others had caused huge loss to the bank, Thousand Lights Branch, Chennai by cheating, forgery etc.