Chennai, Nov. 22 -- The CBI Court, Chennai, has convicted and sentenced two accusedto undergo seven years and one year Rigorous Imprisonment (RI) respectively in a Rs fourcore bank fraud cause.
The Court also convicted two Private Firms and Two Private Persons--M/s Afrina Steel RollingMills (Private Firm); M/s Basheer & Co (Private Firm); Nazeer Ahmed (Owner of the Two Firms);Ashik Arafath, private person, in the case.
Both the private firms, represented by Nazeer Ahamed, who was awarded 7 years RI, have beenimposed a fine of Rs. 20 lakhseach.
Nazeer Ahmed has been directed pay a fine of Rs. 40 lakhs, while Ashik Arafath has been sentencedto undergo Rigorous Imprisonment for one year and to pay a fine of Rs. 20,000.
Total fine imposed o...