The Additional Chief Metropolitan Magistrate, Egmore, sentenced two persons to four years’ rigorous imprisonment in a cheating case filed by CBI.
According to CBI, Anti-corruption Bureau, Chennai, K. Naseem and Anirudh Adhikary had cheated Canara Bank, Thousand Lights branch, by availing of Open Cash Credit facility and Medium Term loan against fake collateral securities. They caused a wrongful loss of Rs.7.5 lakh to bank in 1995. Besides the prison term, Additional Chief Metropolitan Magistrate V.P. Raveendran also imposed a fine of Rs.11 lakh. — Staff Reporter