CHENNAI:
N Gunaseelan, a former Manager of Syndicate Bank, has been sentenced to undergo seven years Rigorous Imprisonment with fine of Rs. 75,000 by additional district Judge for CBI Cases, Madurai in a bank fraud case. Gunaseelan sanctioned and released housing loans worth Rs155.79 lakh to ineligible borrowers. The loan accounts became non performing assets to the tune of Rs162.72 lakh.
The court also sentenced 14 others to undergo rigorous imprisonment (RI) for three years along with varying amount of fines to each of them. They include
Paul Johnson and A Kumaresan both to undergo three years RI with fine of Rs. 20,000 each; Jesuvin Febi (three years RI with fine of Rs. 30,000); R. Mahalingam, C. Arumughan, Raja Thomas, R. Murali, R. Thirupati, G. Thangarajan, R. Vadamalai, A. Jesuraj, Sharun Rashit, P. Theradimuthu and S Sundaresan (three years RI with fine of Rs. 60,000 each) in the bank fraud case.
CBI had registered a case on October 4, 2010 against tGunaseelan on complaint from Syndicate bank, Regional Office, Coimbatore. It was alleged that 14 persons conspired with public servants to cheat Syndicate Bank, Dindigul Main Branch. The chargesheet was filed on May 3, 2012 against the accused. The Trial Court found all 15 guilty and convicted them, a release stated.
N Gunaseelan, a former Manager of Syndicate Bank, has been sentenced to undergo seven years Rigorous Imprisonment with fine of Rs. 75,000 by additional district Judge for CBI Cases, Madurai in a bank fraud case. Gunaseelan sanctioned and released housing loans worth Rs155.79 lakh to ineligible borrowers. The loan accounts became non performing assets to the tune of Rs162.72 lakh.
The court also sentenced 14 others to undergo rigorous imprisonment (RI) for three years along with varying amount of fines to each of them. They include
Paul Johnson and A Kumaresan both to undergo three years RI with fine of Rs. 20,000 each; Jesuvin Febi (three years RI with fine of Rs. 30,000); R. Mahalingam, C. Arumughan, Raja Thomas, R. Murali, R. Thirupati, G. Thangarajan, R. Vadamalai, A. Jesuraj, Sharun Rashit, P. Theradimuthu and S Sundaresan (three years RI with fine of Rs. 60,000 each) in the bank fraud case.
CBI had registered a case on October 4, 2010 against tGunaseelan on complaint from Syndicate bank, Regional Office, Coimbatore. It was alleged that 14 persons conspired with public servants to cheat Syndicate Bank, Dindigul Main Branch. The chargesheet was filed on May 3, 2012 against the accused. The Trial Court found all 15 guilty and convicted them, a release stated.
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