The special court CBI, Chennai (Tamil Nadu) has sentenced six accused T. Kumararaja, T. Ashokan, V. Anandan, R. Ramachandran, T. Manishankar & S. Srinivasan, all to undergo three years rigorous imprisonment with fine of Rs.40,000 each in a bank fraud case.
The Court has imposed a fine of Rs. three crore on M/s A.G.K. Packers and also ordered to pay the said fine to IDBI bank city SME, Chennai as compensation.
The CBI had registered a case on the complaint from IDBI, City MSME Centre, Anna Salai, Saidapet, Chennai on 15.06.2012 against M/s A.G.K. Packers represented by its Managing Parner T.Kumararaja and his brother T. Ashokan(Partner of said private company).
It was alleged that during the year 2009, the accused availed various credit facilities to the tune of Rs.3 crore from IDBI Bank by submitting false, fabricated & forged documents as collateral security, diverted the funds to their personal use and failed to repay the loan. A loss of Rs.3.72 crore was caused to IDBI bank.
After investigation, CBI filed chargesheet before the Chief Judicial Magistrate, Trichy on 05.06.2013 against the said convicted accused.
The Trial Court found the said accused guilty and convicted them.
