Madras HC upholds CBI's appeal in corruption case, sends five persons to 5-year jail

Chennai, April 3 (IANS) Accepting a CBI appeal, the Madurai Bench of Madras High Court has sentenced five persons, including two former employees of a Debts Recovery Tribunal and an ex-bank manager, to five years’ Rigorous Imprisonment (RI) with a total penalty of Rs 27 lakh in a corruption case, an official said on Thursday.

The accused, including S. Kasimayan, the then Recovery Officer in the DRT, and Selvaraj, the then UDC in DRT, were held guilty of abusing their official position in fixing the upset price or reserve price of properties at a lower price than the market value.

All the accused conspired to cause wrongful loss to the bank and the property owner and corresponding wrongful gain and pecuniary advantage to themselves, alleged the CBI.

While agreeing with the appeal filed by the CBI against a trial court decision acquitting the accused, the High Court also pronounced its sentence against N. Venkeeshwaran, the then Branch Manager of Dhanalakshmi Bank, Madurai, and two private persons - R. Rajesh Kannan and R. Anitha, wife of accused UDC of DRT, Madurai.

The CBI had registered the case on March 30, 2009, in the corruption matter. It was alleged that the accused Kasimayan fraudulently fixed the upset prices of the properties much lower than the market value in 2008.

After the completion of the investigation, the CBI filed a chargesheet on June 6, 2011. The trial court issued its order dated December 7, 2016 acquitted all the accused.

The High Court, upholding CBI's appeal, sentenced the accused and slapped a fine of Rs 6 lakh on Kasimayan and Vakeeshwaran.

Selvaraj, then UDC of DRT, and two private persons were directed to pay a fine of Rs 5 lakh each.

Just before the sentencing by the HC, the accused approached the Supreme Court, which suspended the sentence for three weeks starting March 27.

--IANS

rch/dan