New Delhi, Aug 27 (UNI) More than 35 years after a director of two film production companies and eight others committed a loan fraud of Rs 10 crore, a Special CBI Court in Chennai has awarded various jail terms to the accused.
The loan was taken by G. Venkateswaran, director of Sujatha Films Pvt. Ltd. and G.V. Films Ltd. The court also imposed a fine of Rs 50,000 on G.V. Films Ltd.
Venkateswaran and four other accused passed away during the trial, and the charges against them were abated.
The court awarded a nine-year jail term with a fine of Rs 45,000 each to P. Swaminathan and T.R. Venkatraman, then Branch Manager of Central Bank of India. K. Srinivasan, a private individual, was sentenced to six years’ rigorous imprisonment with a fine of Rs 20,000.
The case against Sujatha Films Ltd. is currently pending before the City Civil Court, Chennai.
The CBI registered the case in 1996 on the basis of a complaint filed by the Central Bank of India, Chennai. The complaint alleged that the accused conspired between 1988 and 1992 to avail of credit and term loan facilities in the names of Sujatha Films Pvt. Ltd. and G.V. Films Ltd., represented by Venkateswaran, who dishonestly produced false documents.
According to the officials, the bank officials abused their official positions to sanction the funds to the accused companies, causing a wrongful loss of Rs 10.19 crore to the bank.
The CBI has filed a chargesheet in 2000 against nine accused. After a prolonged trial, the court has now held them guilty and awarded the sentences.
