The Special Judge, Chennai (Tamilnadu) has sentenced Sh. B. Muthaiah, then Chief Manager, Indian Bank, Thousand Lights Branch, Chennai to undergo 2 years Rigorous Imprisonment with fine of Rs. 70000/-; Sh. M. Azeez, then AGM, Indian Bank, Thousand Lights Branch, Chennai to undergo 2 years RI with fine of Rs. 50,000/- and Sh. A. Manohar Prasad, then Joint MD of M/s Gemini Pictures Cicuit Private Ltd. Virugambakkam, Chennai to undergo 2 years RI with fine of Rs. 90,000/- in a bank fraud case. The court has also imposed a fine of Rs. Nine Lakh to M/s Gemini Pictures Circuit Pvt. Ltd., Virugambakkam, Chennai and Rs. Two Lakh to M/s 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. It was alleged that Sh. M. Gopalakrishnan, Chairman & MD, Indian Bank, Chennai; Sh.A. V. Shanmugasundaram, DGM (Zonal Manager), Indian Bank, Zonal Office, Chennai; Sh. B. Muthaiah, Chief Manager, Indian Bank, Thousand lights Branch, Chennai and Sh. M. Azeezthen AGM, Indian Bank Thousand Lights Branch, hatched a conspiracy with other accused including private persons. It was further alleged that the accused submitted false & forged documents, availed loan and failed to repay the loan amount. A loss to the tune of Rs. 8.35 Crore was caused to Indian Bank.
After investigation, a Charge Sheet was filed on 21.12.2001 against the accused before the Special Judge, Chennai. Sh. M. Gopalakrishnan, then Chairman & MD, Indian Bank; Sh. A. V. Shanmugasundaram, then DGM/Zonel Manager, Indian Bank, Chennai and Sh. A. Ravi Shankar Prasad, then MD of a private company expired and the charges were abated.
The Trial Court found the said accused guilty and convicted them.
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