A special court for CBI cases on Monday convicted M. Gopalakrishnan, former chairman and managing director of the Indian Bank; A.V. Shanmugasundaram, the then zonal manager; and Satish Kumar, the then assistant general manager, New Delhi; and sentenced them to three years rigorous imprisonment in a cheating case.
The CBI had registered a case on allegations that Mr. Gopalakrishnan and two others conspired during the period 1989-93 with the director of Scantel Pvt. Ltd. and Allied Equipments & Services Ltd., New Delhi, in sanctioning ₹18.08 crore as credit facility to the latter.
The director of the private firm later cheated the bank.
After completion of the investigation, the CBI filed chargesheet before the special court in Chennai.
During the course of the trial, the director of the private firm died and the charges against him abated.
