NE NEWS SERVICE
CHENNAI, DEC 21
A special CBI court convicted three persons, including then CEO cum Chairman of a private company to undergo five year Rigorous Imprisonment.
The Additional Chief Metropolitan Magistrate for CBI Cases, Egmore, Chennai (Tamil Nadu) has sentenced 3 accused, including then CEO cum Chairman of a private company to undergo five year Rigorous Imprisonment. A combined fine of Rs. 2.10 crore have also been imposed on the accused persons and the said company.
Senthil Kumar then CEO cum Chairman of M/s. PalpapIchinichi Software International Limited was sentenced to undergo five years Rigorous Imprisonment with fine of Rs. 2,07,62,000 and S. Kalidasan @ H. Jayakumar & Thanjan Chezianare, both to undergo five years RI with fine of Rs. One lakh each. The Court has also imposed a fine of Rs. One lakh on M/s. PalpapIchinichi Software International Ltd., (represented by its Chairman P. Senthil Kumar).
CBI had registered a case on complaint from Bank of India on 27.09.2008 against P. Senthil Kumar, CEO cum Chairman of M/s. PalpapItchinichi Software International Ltd., and others. It was alleged that the accused opened 149 loan accounts under Star Personal Loan Scheme at Bank of India, Anna Salai Branch, Chennai in the names of fictitious persons showing them as employees of his company and got the loans sanctioned by fabricating Salary Slips & Identity Cards in the names of loanees. The loan amounts were not repaid, thereby causing loss to the tune of Rs. 206.87 lakh to Bank of India.
After investigation, a chargesheet was filed on 30.09.2009 against the accused.
The Trial Court found the said accused guilty and convicted them.
