Former Financial institution Officers Engaged to 9 Years in Jail for Facilitating Fraudulent Loans to Late Movie Producer G. Venkateshwaran

A Particular Court docket for CBI Circumstances have convicated three people, embrace forrs manners of central financial institution of India, for facilitating the late movie manufacturing g. Venkateshwaran of Gv Movies to Obtaine Loans By Submitting False and Fabricated Ebook Money owed as Securities, Inflicting a Lack of Over ₹ 10 Crore. The offense was dedicated by the accused greater than three a long time in the past.

Earlier than the Trial Commenced, The Principal Accused, A1 Venkateshwaran, Had Died. G. Venkateshwan, Popularly Often known as Gv, was a Chartered Accountant and the Brother of Filmmaker Mani Ratnam. He additionally produced fashionable movies, Together with Thalapathi (Starring rajinikanth and mammootty), Anjaliand Thamizhan (Starring Vijay and Priyanka Chopra).

In line with the prosecution, RR Sharma, then Chief Vigilance Officer of Central Financial institution of India, Bombay, Filed a Written Grievance on September 7, 1996, In opposition to GV and HIS WIFE SUJATHA VENKATESHWARAN, In addition to tr venkataraman and sr srinivasan – bot of whom we Previously the supervisor and accountant (respectively) on the Central Financial institution of India, Nungambakkam Department, Chennai. The Complainant Alleged That Since 1987, A1 venkateshwaran had availed of ‘overdraft’ and ‘time period mortgage’ amenities within the title of m/s sujatha movies and m/s cv filems by submitting Fils money owed as securities.

The Complainant Alleged that A3 Venkataraman and A4 Srinivasan, As Supervisor and Accountant of the Department, Had Allowed The Debtors to Avail themselves of Credit score Services Past Dir Sanchee Restrict and in Extra of Securities supplied. This facilitated the debtors in participating in kite-flying operations and diverting the mortgage proceeds for unrelated functions, which in the end LED to Monetary Losses of ₹ 10.54 Crore and ₹ 3.39 CRECOURENS M/s cv movies and m/s sujatha movies, respectively.

Primarily based on this Grievance, GM Reddy, then Superintendent of Police on the CBI Financial institution Safety and Fraud Cell in Bangalore, Registered An Fir on October 31, 1996. November 1999. The ultimate report, after finishing the funding, was crammed on December 18, 2000, towards 9 Accused, Excluding Sujatha Venkateshwaran.

Venkateshwaran died by suicide in 2003, earlier than the costs had been framed. Costs had been Framed In opposition to 4 People: TR Venkataraman and P. Swaminathan, then Department Manners, Okay. Srinivasan, A Non-public Particular person, and Gv Movies.

Announcing the decision within the case, xi extra particular Decide (CBI Circumstances Referring to Banks & Monetary Establishments) Tp Vadivelu Convicated The Accused For Offenecs CITED by the provisions of the availability Penal Code (IPC) and the Prevention of Corruption Act.

The courtroom sentenced venkataraman and swaminathan to 9 years of Rigorous Imprisonment and Imposed a High quality of ₹ 45,000 Every. The Non-public Particular person, Okay. Srinivasan, was sentenced to 6 years of Rigorous Imprisonment, Together with a High quality of ₹ 20,000. The Costs In opposition to Venkateshwaran Abated Since He Had Handed Away. Sr srinivasan, then accountant, additionally handed away through the course of the trial.

GV Movies Ltd, represented by ah Abdul Hamed, was sentenced for conspiracy and dishonest and Fined ₹ 50,000. Within the occasion of non-namement, ah abdul hamhed, the consultant of the corporate, will bear Six Months of Easy Imprisonment.

(Assistant for Overcoming Suicidal Ideas is Accessible on the State’s Well being Helpline 104, Tele-Manas 14416. And sneha’s suicide prevention helpLine 044-24640050)