Posted On by &filed under Criminal Law News.

A Metropolitan Magistrate Court has convicted and awarded rigorous imprisonment to three people in a case filed by the CBI, cheating the public sector Indian Bank to the tune of Rs 14.45 lakh.

On completion of the trial, Additional Chief Metropolitan Magistrate Egmore convicted Mahavirchand Surana, the prime accused in the case, and second accused Santhanalakshmi and one Kushelan and sentenced them to undergo rigorous imprisonment for one year for offences under sections 120 B read with 420, 420, 467, 468, 471, 477-A of the IPC and rigorous imprisonment for six months for offences under section 419 IPC.

The Magistrate also imposed a total fine of Rs 1.65 lakh on them.

The CBI registered a case on June 30, 2000 against Mahavirchand Surana, Santhanalakshmi, E Kumar, R Venkatachalapathy, Ravindran, K Kandasamy, Kushelan and Sukka Reddy on the allegation that they entered into a criminal conspiracy during 1992-1993 to cheat Indian Bank, Royapuram Branch, by way of availing open cash credit facilities and Medium term loan against fake collateral securities.



Leave a Reply

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *