Graft case: CBI court convicts ex-Indian Bank manager, 3 others

Delivering the verdict, the Judge for CBI cases convicted the then manager of Indian Bank’s Ethiraj Salai, R H Wheeler, to five years and also imposed a fine of Rs 15 lakh. 

The court also convicted Ashok Muthanna to undergo five years RI with a fine of Rs 20 lakh, V G K Moorthy to three years RI with a fine of Rs four lakh, and K Ram Kumar to three years RI with a fine of Rs four lakh in the case. In addition, the court has also imposed a fine of Rs two lakh on Fidelity Industries Limited.

The CBI had registered the case following allegations that during the year 1998-99, the accused had entered into a criminal conspiracy to cheat the bank by availing huge temporary overdrafts and discounting of bills, causing losses to the tune of Rs 3.89 crore. After completion of investigation, the charge sheet was filed before the court in December 2002.