CBI Principal Sessions Judge S Malathi also ordered Gopalakrishnan, N Ramakrishnan, bank valuer, V Ravikumar of Arul Builders, K Sai Jagannathan of Incom Builders, and Businessman Varadarajulu to pay a fine ranging from Rs 15,000 to 40,000.
According to CBI, the accused furnished inflated value of collateral security for the value of the loan they secured. Apart from sanctioning the loan without sufficient collateral security, Gopalakrishnan waived the loan amount of 64 lacks to Arul Builders, 50 lacks to Incom Builders and Rs.6.72 lacks to Incom builders.