In a cheating case, a couple and the bank manager were each sentenced to three years in jail by the Coimbatore CBI. In court, the verdict was handed down on Friday.
Coimbatore: Sakthivel (48) hails from Lathuvadi near Veerapandi in Namakkal district. His wife Vijayakumari (42).
They were running an earthworm composting company called 'Sun Bio'. Sakthivel and Vijayakumari applied for a loan from Veerapandi Indian Bank branch manager Balasubramanian to set up a new branch in Saligramam, Chennai.
As a result, their company was given a loan of Rs.1.85 crore in 2009. An audit by top bank officials revealed that Sakthivel and Vijayakumari had fraudulently obtained loans with forged documents and that bank manager Balasubramanian was complicit. Kodungaiyur, Arokkiyasamy has produced and given fake documents. According to a complaint lodged with the Chennai CBI on January 21, 2010, four persons were charged with fraud.
The Coimbatore CBI, in connection with the case, delivered its verdict in court yesterday. To the accused Sakthivel, Vijayakumari, Bank Manager Balasubramanian, Judge Govindarajan sentenced him to three years in jail and fined him Rs.6.50 lakh. As Arokiyasamy failed to appear for the hearing, the case against him has been separated and an inquiry is underway.
They were running an earthworm composting company called 'Sun Bio'. Sakthivel and Vijayakumari applied for a loan from Veerapandi Indian Bank branch manager Balasubramanian to set up a new branch in Saligramam, Chennai.
As a result, their company was given a loan of Rs.1.85 crore in 2009. An audit by top bank officials revealed that Sakthivel and Vijayakumari had fraudulently obtained loans with forged documents and that bank manager Balasubramanian was complicit. Kodungaiyur, Arokkiyasamy has produced and given fake documents. According to a complaint lodged with the Chennai CBI on January 21, 2010, four persons were charged with fraud.
The Coimbatore CBI, in connection with the case, delivered its verdict in court yesterday. To the accused Sakthivel, Vijayakumari, Bank Manager Balasubramanian, Judge Govindarajan sentenced him to three years in jail and fined him Rs.6.50 lakh. As Arokiyasamy failed to appear for the hearing, the case against him has been separated and an inquiry is underway.