The CBI special court Additional Chief Metropolitan Magistrate, Egmore, Chennai (Tamil Nadu) has sentenced P.Senthilkumar, then CEO-cum-Chairman of M/s Palpap Ichinichi Software International Ltd., Chennai to undergo 5 years Rigorous Imprisonment with total fine of Rs.1,25,000 and T.R. Dhanasekar, R. Karunanidhi (both then Directors of M/s SJS Network and Services Ltd, Chennai) & J.Murali, B.Latha Bhas, P.Senthilkumar (other persons), all to undergo 3 years Rigorous Imprisonment with total fine of Rs.1,25,000 each in a Bank Fraud Case.
The Court also imposed a fine of Rs.One Lakh each to M/s Palpap Ichinichi Software International Ltd., Chennai and M/s SJS Network & Services (P) Ltd, Chennai.
CBI had registered a case on complaint from Indian Bank against the accused on 06.02.2008. It was alleged that M/s. Palpap Ichinichi Software International Ltd., Chennai represented by P.Sentilkumar, CEO cum Chairman & others and M/s SJS Network and Services Ltd.,Chennai represented by its Directors T.R. Dhanasekar & R.Kaunanidhi and others submitted false & forged documents, availed loan and failed to repay the loan amount, thereby causing loss to the tune of Rs.4.19 crore to Indian Bank.
After investigation, a Charge Sheet was filed on 20.10.2008 against the accused in the Court of Additional Chief Metropolitan Magistrate, Chennai. The Trial Court found the said accused guilty and convicted them.
