Coimbatore CBI court awards 3 yrs RI to former bank manager, 2 others in cheating case

Chennai

The Additional District Judge for CBI cases, Coimbatore sentenced A Shanmugam, then Senior Manager, Canara Bank, Kavundampalayam branch, Coimbatore, to undergo three years RI and also imposed a fine of Rs three lakh on him. The court also convicted two private persons M Kumaram and K Chitrakani to undergo three years of RI and also imposed a fine of Rs 3 lakh and Rs 50,000 respectively. The CBI said Shanmugham while working as Senior Manager, Canara Bank, had sanctioned 272 housing loans to the tune of about Rs 14 crore on the strength of false and fabricated documents to ineligible loans for whom the construction work was undertaken by M/s Maruthi Housing and M/s Maruthi Shelters India (P) Ltd owned by Kumaran.