Chennai, June 30 -- A CBI Court in Chennai has convicted and sentenced a former manager of Central Bank of India and theCMD of a private firm to undergo seven years Rigorous Imprisonment (RI) in a Rs 5.29 crore housing loan fraud case of 2006-07.
The court, in its verdict delivered last evening, convicted and sentenced the accused public servant Deepak V. Menon, then Senior Manager, Central Bank of India, Triplicane Branch, Chennai, a Private Company-M/s SreeSasthru Associates Kadanthetti Pvt. Ltdnd its Chief Managing Director (CMD) B.Sivaganesan, in the bank fraud case.
Apart from awarding seven years RI to the duo, the court imposed a fine of Rs 65,000 on the bank manager and Rs 1.17 lakh on Sivaganesan and Rs 26,000 on the firm.
In a ...