Chennai, Sept 2:
A special CBI court in Chennai has convicted a steel trading firm and six persons in a Rs 2.68-crore bank fraud case dating back to 2008, sentencing the main accused to two years’ rigorous imprisonment and five others to six months’ RI each.
The court convicted M/s Jailani Steel Traders along with S. Amurudheen, L. Vijayalakshmi, M. Shanthi, S. Kamatshi, M. Sivakumar and M. Ravichandran Babu.
Amurudheen was sentenced to two years’ rigorous imprisonment, while Vijayalakshmi, Shanthi, Kamatshi, Sivakumar and Ravichandran Babu were sentenced to six months’ rigorous imprisonment each.
The court also imposed a fine of Rs 20,000 on Jailani Steel Traders and a combined fine of Rs 60,000 on the six convicted individuals.
The CBI registered the case on April 21, 2008, based on a complaint from United Bank of India. The agency alleged that the accused, in conspiracy with bank officials, fraudulently obtained various credit facilities by submitting false and fabricated documents and misappropriated bank funds.
The alleged fraud caused a loss of Rs 2.68 crore to the bank.
The CBI filed its chargesheet on June 23, 2009, against the firm and 13 other accused after completing its investigation.
Four private accused — Jailani Beevi, A. Srinivasan, N. Manoharan and S.G. Sekar — died during the trial, following which the charges against them were abated.
The court acquitted former United Bank of India branch manager S.R. Gnanasekar and private individual M. Chakravarthy. United Bank of India panel advocate P.B. Sampath Kumar was discharged.