Three persons who used fake documents and availed a loan from a nationalised bank were convicted by a city court on Thursday.

According to a press release issued by the Central Bureau of Investigation (CBI), a case was registered on June 30, 2000 against Mahavirchand Surana, Santhanalakshmi, Kushelan and others based on the allegation that they entered into a criminal conspiracy to cheat the Indian Bank, Royapuram Branch, here.

The accused persons used fake collateral securities, invalid sale deed and other documents to avail a loan to the tune of Rs. 14.45 lakh. An advocate and two Valuers who were also named as accused in the case were discharged of the charges. Another accused person named in the First Information report expired during the course of the trial.

On completion of trial, the Additional Chief Metropolitan Magistrate, Egmore, convicted Mahavirchand Surana, Santhanalakshmi and Kushelan and sentenced them to undergo Rigorous Imprisonment for one year. A total of Rs. 1.65 lakh was imposed on them, the release added.


City PulseSeptember 24, 2010

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