Bank Fraud Case: Court sentenced Six Accused including then CEO cum Chairman to 3 to 5 years of Rigorous Imprisonment:

Bank Fraud Case: Court sentenced Six Accused including then CEO cum Chairman to 3 to 5 years of Rigorous Imprisonment The Additional Chief Metropolitan Magistrate for CBI Cases, Egmore, Chennai (Tamil Nadu) has sentenced Shri P.Senthilkumar, then CEO-cum-Chairman of M/s Palpap Ichinichi Software International Ltd., Chennai to undergo 5 years Rigorous Imprisonment with total fine of Rs.1,25,000, on Friday. The court also sentenced the other five suspects to three years in jail, according to the official announcement. "T.R. Dhanasekar, R. Karunanidhi (both then-Directors of SJS Network and Services Ltd, Chennai), J. Murali, B.Latha Bhas, and P. Senthilkumar (others) sentenced to 3 years rigorous imprisonment and a total fine of Rs 1,25,000/- in a Bank Fraud Case. The Court also fined Palpap Ichinichi Software International Ltd, Chennai, and SJS Network and Services (P) Ltd, Chennai, Rs.1 Lakh apiece," according to an official release. CBI had registered a case on complaint from Indian Bank against the accused on 06.02.2008. It was alleged that M/s. Palpap Ichinichi Software International Ltd., Chennai represented by Sh. P.Sentilkumar, CEO cum Chairman & others and M/s SJS Network and Services Ltd.,Chennai represented by its Directors Sh. T.R. Dhanasekar & Sh. R.Kaunanidhi and others submitted false & forged documents, availed loan and failed to repay the loan amount, thereby causing loss to the tune of Rs.4.19 crore to Indian Bank. Following an inquiry, a Charge Sheet was filed against the accused on October 20, 2008, in the Court of Additional Chief Metropolitan Magistrate, Chennai. The defendants were found guilty and convicted by the Trial Court.