Four senior officials of an Indian bank have been sent to jail for three years in a ₹30 crore loan scam. A special CBI court in Chennai sentenced the four bank officials and two others to three years of rigorous imprisonment with a ₹10,000 fine each.
The CBI court said Aziz, then Chief Manager, GV Srinivasan, then Senior Manager, Muthiah, then Senior Manager and S Arunachalam, then General Manager, all of Indian Bank, will undergo three years’ rigorous imprisonment with a fine of ₹10,000 each and Ranjiv Batra and his wife Kiran Batra of M/s Kiran Overseas Ltd (both residents of Chennai) to undergo 37 months rigorous imprisonment with fine of ₹10,000 each. The court has also imposed a fine of ₹10,000 each on M/s Kiran Overseas Ltd, Chennai and M/s Kiran Overseas Ltd, Delhi.
The probe agency registered a case on a complaint from Indian Bank that the accused including M/s Kiran Overseas Ltd and its Directors; officials of Indian Bank and others had caused huge loss to Indian Bank, Thousand Lights Branch, Chennai by cheating and forgery.
It…
