CHENNAI: A CBI court in Chennai has sentenced six persons, including a former Deputy General Manager of Bank of India and three Tamil Nadu government officials, to 10 years’ rigorous imprisonment in a bank fraud case involving Rs 2.39 crore.
The court passed the order on Wednesday (August 19), sentencing N Venkatachalam, then DGM, Bank of India; M Sivakumar, record clerk, Sholinganallur Taluk office; T Dasarathan, VAO, Puzhalavandhal; M Manichavelu, VAO, Government of Tamil Nadu; and private persons O P Thamarai Poo and P Thandapani.
The six were also collectively fined Rs 2.70 crore, according to the CBI. The CBI registered the case on May 19, 2010, based on a complaint from Bank of India. The agency alleged that prime accused E Muthuswamy and others, in conspiracy with bank officials, fraudulently obtained various credit facilities by submitting false and fabricated documents.
The accused allegedly misappropriated bank funds and caused a loss of Rs 238.97 lakh to the bank.
Following the investigation, the CBI filed a chargesheet on December 28, 2011, against 12 persons, including five public servants and seven private individuals. During the trial, the case against suspended senior draftsman V Umapathy of the Land and Survey Department was split up and is being tried separately in CC 18/2016. Four private accused — E Muthusamy, A Vincent, K Srikanth and M Jothi — died during the trial, following which the charges against them were abated. Another accused, Lavanya, was acquitted.