CHENNAI: A CBI court has sentenced a former chairman of a private company and two others to five years rigorous imprisonment for causing loss of Rs 207 lakh to Bank of India.
The Additional Chief Metropolitan Magistrate for CBI Cases, Egmore, sentenced P Senthil Kumar, former chief executive and chairmen of Palpap Ichinichi Software International Limited to pay a fine of Rs 2 crore. The other two persons — S Kalidasan alias H Jayakumar and Thanjan Chezianare — were fined Rs 1 lakh each.
A release said CBI had registered a case on complaint from Bank of India on September 27, 2008. The accused allegedly opened 149 loan accounts under Star Personal Loan Scheme in Bank of India, Anna Salai branch, Chennai in the names of fictitious persons showing them as employees of his company and got loans sanctioned by fabricating salary slips and identity cards in the names of loanees. The loans were not repaid, thereby causing loss to the tune of Rs 206.87 lakh to the bank. The chargesheet was filed on September 30, 2009, against the accused.