NE BUSINESS BUREAU
CHENNAI, JUNE 29
In a case of 25-year old fraud case, a special court for CBI cases has sentenced B Muthaiah, former Chief Manager, Indian Bank, M Azeez, former Assistant General Manager, Indian Bank, Thousand Lights Branch, and A Manohar Prasad, Joint Managing Director of Gemini Pictures Circuit Private Ltd., Virugambakkam, to two years of rigorous imprisonment in a bank fraud case.
The Central Bureau of Investigation (CBI) registered a case in June 1998 against them on a complaint from Indian Bank. It was alleged that M. Gopalakrishnan, then Chairman and Managing Director, Indian Bank, AV Shanmugasundaram, then DGM (Zonal Manager), Indian Bank, Zonal Office, Muthaiah and Azeez hatched a conspiracy with the involvement of other private individuals. It was further alleged that the accused submitted forged documents, availed loans and failed to repay the amount. A loss to the tune of ₹8.35 crore was caused to the bank.
- CBI had registered a case on 27.06.1998 against the accused on a complaint from Indian Bank
- After investigation, a Charge Sheet was filed on 21.12.2001 against the accused before the Special Judge, Chennai.
The Special Judge, Chennai (Tamilnadu) has sentenced B Muthaiah to undergo 2 years Rigorous Imprisonment with fine of Rs 70,000; M Azeez to undergo 2 years RI with fine of Rs 50,000 and A Manohar Prasad to undergo 2 years RI with fine of Rs 90,000.
The court has also imposed a fine of Rs Nine Lakh to Gemini Pictures Circuit Pvt. Ltd., Virugambakkam, Chennai and Rs Two Lakh to 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. After investigation, a Charge Sheet was filed on 21.12.2001 against the accused before the Special Judge, Chennai. The Trial Court found the said accused guilty and convicted them.
