New Delhi,
The Special Judge for CBI Cases, Chennai has sentenced Ms. Sakuntala Ashok, then Senior Manager, Indian Overseas Bank Regional Office, Chennai to undergo three years imprisonment with fine of Rs.4.60 lakh and six private persons. These include CMC Durai who has been sentenced to undergo three years Imprisonment with fine of Rs 1.60 Lakh; T S Anandharaj Stephen & Franklin Samuelraj Toney both to undergo three years Imprisonment with fine of Rs. 7.70 lakh each (Compensation to pay Rs. 1,50,00,000/- by both accused within one month); R Balakrishnan & R Adhityan both to undergo three years Imprisonment with fine of Rs. 7.20 lakh each and M Yuvarajan to undergo three years Imprisonment with fine of Rs.9.30 lakh in a Bank Fraud Case.

CBI, had registered a case on 18.01.2012, on a complaint from Indian Overseas Bank, Regional Office, Chennai – II, Chennai against C.M.C.Durai and others u/s.120-B r/w.420, 419, 465, 467, 468, 471 of IPC and Sec 13 (2) r/w.13 (1) (d) of PC Act, 1988 & substantive offences thereof. It was alleged that the accused persons opened fictitious Current Account in the name of M/s. Gokulam Chits & Finance Pvt. Ltd., posing as Directors of the company at Chennai and  presented 3 cheques of M/s. Catholic Syrian Bank, Chennai favouring M/s. Sree Gokulam Chits & Finance Ltd., for Rs. one crore, Rs. two crore and Rs. three crore respectively. The proceeds were deposited in 3 Fixed Deposits in the name of Sree Gokulam Chits & Finance Pvt. Ltd. They also availed loan of Rs.90 lakh and Rs.1.80 crore against the FDs for Rs. one crore & two crore respectively which was credited into the said fictitious Current Account.  The said amount was withdrawn through M/s. Frogin Investments having Account at HDFC Bank, Broadway, Chennai maintained by Anantharaj Stephen.  The accused cheated the Indian Overseas Bank and caused a loss of Rs.2,55,57,000/- to the Bank.

After completion of investigation, charge sheet was filed against 10 accused persons U/s 120-B r/w 420, 201, 409, 419, 465, 467, 468 and 471 of IPC and Sec.13(2) r/w 13(1)(d) of PC Act 1988 on 22.03.2013.

The Trial Court convicted seven accused and acquitted three persons.


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