A special court for the Central Bureau of Investigation (CBI) cases on Friday convicted P. Senthilkumar, CEO & Chairman, M/s. Palpap Ichinichi Software International Ltd., Chennai, among others, in a 2008 bank fraud case.
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The CBI had registered a case on the basis of a complaint lodged by Indian Bank against the accused persons on February 6, 2008, that Senthilkumar; and R.R Dhanasekar and R. Karunanidhi, Directors of M/s SJS Network and Services Ltd., Chennai, among others, had submitted forged documents and availed of a loan.
They failed to repay the loan, causing loss to the tune of ₹4.19 crore to the bank. On completion of investigation, the agency filed a charge sheet against the accused.
While Senthilkumar was sentenced to five years of rigorous imprisonment, with a fine of ₹1.25 lakh, Dhanasekar and Karunanidhi were awarded three years of rigorous imprisonment, with a fine of ₹1.25 lakh each, the CBI said in a press release.