Chennai, Nov. 18 -- The CBI Court, Coimbatore, today convicted and sentenceda private person to seven years Rigorous Imprisonment (RI) in the Rs 9.39 crore 2007bank fraud case.
The court also imposed a fine of Rs.15,000 on the accused S. Ramesh.
The CBI registered the instant case on October 4, 2007, based on a complaint fromDeputy General Manager, State Bank of India, Commercial Branch, Coimbatore,against private persons P.M. Sundaram and S. Ramesh.
It was alleged the accused Sundaram, CMD of M/s Fashion Synccotex Pvt.
Ltd., having its Registered office at R.S. Puram, Coimbatore, had submittedfabricated title deeds to the bank during 1999-2001, and thereby dishonestlyand fraudulently availed various credit facilities aggregating to Rs....