The CBI Special Court, Chennai (Tamilnadu) has sentenced B. Muthaiah, then Chief Manager , Indian Bank, Thousand Lights Branch, Chennai to undergo 2 years Rigorous Imprisonment with fine of Rs. 70000, M. Azeez, then AGM, Indian Bank, Thousand Lights Branch, Chennai to undergo 2 years RI with fine of Rs. 50,000 and A. Manohar Prasad, then Joint MD of M/s Gemini Pictures Cicuit Private Ltd. Virugambakkam, Chennai to undergo 2 years RI with fine of Rs. 90,000 in a bank fraud case.
The court has also imposed a fine of Rs. Nine Lakh to M/s Gemini Pictures Circuit Pvt. Ltd., Virugambakkam, Chennai and Rs. Two Lakh to M/s Asian Photo Films Pvt. Ltd., Mylapore, Chennai.
CBI had registered a case on 27.06.1998 against the accused on a complaint from Indian Bank. It was alleged that M. Gopalakrishnan, Chairman & MD, Indian Bank, Chennai, A. V. Shanmugasundaram, DGM (Zonal Manager), Indian Bank, Zonal Office, Chennai, B. Muthaiah, Chief Manager, Indian Bank, Thousand lights Branch, Chennai and M. Azeezthen AGM, Indian Bank Thousand Lights Branch, hatched a conspiracy with other accused including private persons. It was further alleged that the accused submitted false & forged documents, availed loan and failed to repay the loan amount. A loss to the tune of Rs. 8.35 Crore was caused to Indian Bank.
After investigation, a Charge Sheet was filed on 21.12.2001 against the accused before the Special Judge, Chennai. M. Gopalakrishnan, then Chairman & MD, Indian Bank, A. V. Shanmugasundaram, then DGM/Zonel Manager, Indian Bank, Chennai and A. Ravi Shankar Prasad, then MD of a private company expired and the charges were abated.
The Trial Court found the said accused guilty and convicted them.
