Former bank manager gets two-year RI for cheating

Coimbatore: The special court for CBI cases, Coimbatore, on Friday sentenced two directors of a private company to three years of rigorous imprisonment each and former branch manager of a bank to two years of rigorous imprisonment (RI) for cheating the bank of 2.61 crore in 2010.
The two directors of Sun Bio-Manure Private Limited at Panamarapatti in Namakkal district - S Sakthivel and S Vijayakumari –with former branch manager of Indian Bank at Veerapandi in Salem forged documents and availed loan to the tune of 2,61,63,000. The forgery came to light when repayment of instalments was not made as per conditions stipulated in the loan sanction order.
The Central Bureau of Investigation (CBI) registered a case against the trio on January 29, 2010, and filed a chargesheet before the special court for CBI cases, Coimbatore, on December 15, 2010.
Pronouncing the verdict in the case on Friday, the court awarded three years of RI to Sakthivel and Vijayakumari and slapped a fine of 1.5 lakh each. Balasubramanian was sentenced to two years of RI and fined 2 lakh. A fine of 1.5 lakh was also imposed on the private company.