FIVE YEARS RIGOROUS IMPRISONMENT TO THEN MANAGER OF INDIAN BANK AND THREE OTHERS IN A BANK FRAUD CASE

Press Release
New Delhi, 25.06.2018

         

The Additional City Civil and Sessions Judge for CBI Cases, Chennai has sentenced Sh. R.H. Wheeler, then Manager, Indian Bank, Ethiraj Salai, Chennai to undergo five years Rigorous Imprisonment with fine of Rs. 15 lakh and three private persons i.e. Ashok Muthanna to undergo five years Rigorous Imprisonment with fine of Rs. 20 lakh; V.G.K. Moorthy to undergo three years Rigorous Imprisonment with fine of Rs. 4 lakh & K. Ram Kumar to undergo three years Rigorous Imprisonment with fine of Rs. 4 lakh in a Bank Fraud case. The Court has also imposed a fine of Rs. 2 lakh to M/s Fidelity Industries Ltd.

CBI had registered the case on the allegations that during the year 1998-99, the accused had entered into criminal conspiracy to cheat Indian Bank, Ethiraj Salai Branch, Chennai by availing huge temporary Overdrafts & discounting of Bills and caused loss to the tune of Rs. 389.54 lakh to the Bank.

After completion of investigation, chargesheet was filed before XI Additional City Civil and Sessions Judge for CBI Cases, Chennai on 27.12.2002 U/s 120 B r/w 420, 409 of IPC, Section 13(2) r/w 13(1)(d), 7 and 12 of PC Act 1988 and substantive offences thereof.

The Trial Court found the accused guilty and convicted them.


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