Chennai: The special judge for CBI cases, Chennai, has sentenced former CMD Indian Bank M. Gopalakrishnan, the then zonal manager, Indian Bank, New Delhi, A.V. Shanmugasundaram, the then assistant general manager, Indian Bank, New Delhi, Satish Kumar, to undergo three years of rigorous imprisonment on corruption charges.
CBI registered the case based on allegations that Shanmugasundaram, Satish Kumar, and Gopalakrishnan conspired between August 1989 and August 1993 with director of Scantel Pvt. Ltd. and Allied Equipments & Services Ltd., New Delhi, to cheat the bank. In pursuance of the conspiracy, the accused released Rs 18.08 crore as credit facility to the director, who cheated the bank.
After completion of investigation, a chargesheet was filed before the special court for CBI court at Chennai under sections 120-B, 420 of IPC and 13(2), 13(1)(d) of Prevention of Corruption Act, 1988. On completion of trial, the special court for CBI court convicted them.
The court also slapped them with fine ranging from Rs 30,000 to Rs 1.40 lakh.
