A CBI special court today sentenced five persons, including a former manager of Indian Bank, three years of rigorous imprisonment for fraud.
The case pertains to N K Ravindran, a former manager of the bank's Royapuram branch, sanctioning Trade Well Loans/Credit Facilities in collusion with the others, and using forged papers to five non-existent firms during 2002-03, a CBI release here said.
He sanctioned Rs 15 lakh each to the five non-existent firms, causing the bank a "wrongful loss" of Rs 82,12,882 with interest, it said.
On completion of trial, XI Additional Special Judge for CBI cases, EMKS Siddharthar, sentenced Ravindran to three years of rigorous imprisonment and imposed a fine of Rs 20,000 on him.
Another convict K B Sampath, an approved valuer of the bank, was sentenced to one year RI with a fine of Rs 10,000.
Other convicts Govind Prasad Tiwari, Andrew Thamba and V Gopalakrishnan were sentenced to one rigorous imprisonment each while a total fine of Rs 52,000 was also imposed on them, the release said.
