Chennai, March 4 (SocialNews.XYZ) A special court here on Wednesday sentenced K.N. Ramachandran, a former AIADMK parliamentarian and Chairman-cum-Managing Trustee, Kannamal Educational Trust to seven years rigorous imprisonment in a bank cheating case.
The court also sentenced two others to jail terms in the case filed by the Central Bureau of Investigation (CBI).
The CBI's Anti-Corruption Branch, Chennai, filed a charge sheet against R.Thiagarajan, Senior Regional Manager, Central Bank of India, Chennai, R.Rajasekaran, Chairman, Sakthi Mariamman Engineering College and Ramachandran.
According to CBI, the accused entered into a criminal conspiracy during the period from July 9, 2012 to September 17, 2013 and availed term loans in the name of Kannamal Education Trust in excess of the permissible limit of the Regional Manager, thereby causing wrongful loss to the tune of Rs 17.28 crore to the bank and corresponding wrongful gain to themselves.
The court sentenced Thiagarajan to five years rigourous imprisonment and a fine of Rs 13.10 lakh while Rajasekaran and Ramachandran were sentenced to undergo seven years rigorous imprisonment and levied a fine of Rs 1.11 crore each.
The fourth accused, Kannamal Educational Trust was slapped a fine of Rs 15.20 crore.
Source: IANS
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