Chennai, Mar 30 (FN Bureau) A CBI court has convicted and sentenced sixpeople to three years Rigorous Imprisonment in connection with theRs 3.72 crore bank fraud case. The ACCM, Chennai (Tamil Nadu) sentenced T.Kumararaja, T.Ashokan,V.Anandan, R.Ramachandran, T.Manishankar and S.Srinivasan to undergothree years Rigorous Imprisonment. The Court also imposed a fine of Rs.40,000 each on them, besides a fineof Rs.three crore on M/s A.G.K. Packers and also ordered to pay it to IDBIbank city SME, Chennai as compensation. The CBI had registered a case on the complaint from IDBI, City MSMECentre June 15, 2012 against M/s A.G.K. Packers represented by itsManaging Partner Kumararaja and his brother Ashokan (Partner ofthe private company).
It was alleged that during the year 2009, the accused availed variouscredit facilities to the tune of Rs.three crore from the bank bysubmitting false, fabricated and forged documents as collateralsecurity, diverted the funds to their personal use and failed torepay the loan. A loss of Rs.3.72 crore was caused to IDBI bank. After investigation, the CBI filed the chargesheet before the ChiefJudicial Magistrate, Trichy on June 5, 2013 against the accused. The Trial Court found the said accused guilty and convicted them.