Ex-DRT Officials Sentenced to 5 Years Rigorous Imprisonment by Madras High Court along with Rs.27 Lakh Fine:

Ex-DRT Officials Sentenced to 5 Years Rigorous Imprisonment by Madras High Court along with Rs.27 Lakh Fine In a press release it is stated that the Madurai Bench of the Madras High Court sentenced five offenders, including a former Recovery Officer and DRT official, a former Branch Manager of Dhanalakshmi Bank, and two others, to 5 years of rigorous imprisonment and also imposed a total penalty of Rs.27 lakh in a CBI corruption case. The Madurai Bench of the Madras High Court sentenced five people: two private individuals, Shri R. Rajesh Kannan and Smt. R. Anitha, who were the spouses of the accused UDC of DRT, Madurai; Shri S. Kasimayan, who was the Recovery Officer at the time; Shri Selvaraj, who was the UDC at the time; and Shri N. Venkeeshwaran, the Branch Manager of Dhanalakshmi Bank, Madurai. The Trial Court has already cleared them. The culprits were sentenced to five years of rigorous imprisonment (RI) and a combined fine of R. 27 lakh for misusing their official position to fix the selling price of properties below market value. On March 30, 2009, the CBI filed the present case against the defendant described above. Shri Kasimayan, the Recovery Officer of DRT, Madurai at the time, was accused of illegally fixing the upset prices of the properties, which were far lower than their market worth in 2008. The accused collectively produced an unlawful loss for the bank and the property owner, as well as a corresponding unjust gain or financial advantage for themselves. Following the conclusion of the investigation, the CBI released a charge sheet against the accused on June 6, 2011, which included the accused who had been convicted by the court. In its order dated December 7, 2016, the Trial Court cleared all defendants. The CBI appealed a criminal acquittal.