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Noted Film producer Abavanan gets 5-yr RI, Rs 2.4 cr fine in a cheque fraud case

Noted Tamil film producer Abavanan has been sentenced to five years of rigorous imprisonment and has been asked to pay a fine of Rs 2.4 crore in a cheque fraud case.

Published: 01st June 2016 03:41 AM  |   Last Updated: 01st June 2016 04:19 AM   |  A+A-

CHENNAI: Noted Tamil film producer Abavanan has been sentenced to five years of rigorous imprisonment and has been asked to pay a fine of Rs 2.4 crore in a cheque fraud case. The order was passed by K Venkatasamy, XI additional Special Judge for CBI cases in Chennai. The film producer has produced hit films like Oomai Vizhigal, Inanindha Kaigal and Senthoora Poove. The judge also sentenced two bank officials of Punjab Bank to three years of rigorous imprisonment. They include manager of Cathedral Road branch of Punjab National Bank, K Rajagopalan and assistant manager T S Ramanujam. The court imposed a fine of Rs 10 lakh and Rs  15 lakh respectively. CBI, Chennai also registered and investigated a case against deputy zonal manager of Punjab National H B Subramaniam and Ambavanan’s wife, Thenmozhi.

The investigation by CBI was launched after it was alleged that in the year 1999, Rajagopalan, Ramanujam and H B Subramaniam purchased cheques from Amabavanan and his 16 associates indiscriminately against the bank procedures even though the previously discounted cheques of these parties were pending for realisation.

Of the 69 cheques purchased, 44 cheques amounting to Rs 2.34 crore were not sent for collection. As such the amount went outstanding without realisation. The amount was credited into the parties account before realisation and the credited amount was withdrawn by Abavanan and Thenmozhi Abavanan, CBI said. H B Subramaniam and Thenmozhi were acquitted in the case.

Bank officials involved

The judge also sentenced two bank officials of Punjab National Bank to three years of rigorous imprisonment. They include manager of Cathedral Road branch, K Rajagopalan and assistant manager T S Ramanujam

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