Chennai, Oct 1 (UNI) The Special Judge for CBI Cases
on Thursday convicted former Chief Manager of Union
Bank of India (UBI) and three others and awarded
Rigorous Imprisonment (RI) ranging from three years
to five years in a Rs 6.19 crore bank fraud case of
2006-07.
A CBI release here said the court sentenced the UBI
Mount Road branch Chief Manager R Kannan to three
years RI, former Standard Chartered Bank Manager
Ms Parvathi Ramakrishnan to three years, Anurag Jain,
then Director of M/s National Medicines Private Limited
to five years RI and its another Director K Manjula to
three years RI in the case.
While convicting them, the Court also imposed a fine
of Rs two lakh on Kannan, Rs one lakh on Parvathi,
Rs four lakh on Anurag and Rs one lakh on Manjula.
The Court also imposed a fine of Rs two lakh on
M/s National Medicines Private Limited.
The CBI had registered the case on the allegations
that during the period between 2006 and 2007, the
Directors of M/s National Medicines Private Limited,
Chennai had conspired with Kannan and Ms Parvathi
to cheat the UBI.
In furtherance of the conspiracy, they fraudulently
availed the enhanced Cash Credit (CC) facility from
the bank by submitting the disputed property as a
collateral security and diverted the sanctioned loan
amount, thereby causing a loss of Rs.6.19 crore to
the UBI.
After investigation, the chargesheet was filed against
the accused and the trial court found them guilty and
convicted them.