CENTRAL BUREAU OF INVESTIGATION (INFORMATION SECTION)
CBI Court Chennai Convicts and Sentences Seven Accused including One Private Firm in Bank Fraud Case
Dated: 01.09.2026
The CBI Court, Chennai, on 31.08.2026, has convicted and sentenced a private firm, namely M/s Jailani Steel Traders, and Six private persons, namely, S. Amurudheen, L. Vijayalakshmi, M. Shanthi, S. Kamatshi, M. Sivakumar and M. Ravichandran Babu, in a Bank fraud case.
The Central Bureau of Investigation (CBI) registered the instant case on 21.04.2008 based on a complaint from United Bank of India, alleging that M/s Jailani Steel Traders and Others, in conspiracy with bank officials of Bank of India, dishonestly and fraudulently availed various credit facilities by submitting false and fabricated documents, misappropriated funds of the bank and thereby cheated the Bank to the tune of Rs.2.68 Crore.
On completion of investigation, the CBI filed Chargesheet on 23.06.2009 against M/s Jailani Steel Traders and 13 other accused persons. The Hon’ble Court, after the trial, convicted and sentenced the above-mentioned 07 accused on 31.08.2026.
The Hon’ble Court has imposed a fine of Rs. 20,000 on the private firm, namely M/s Jailani Steel Traders. The accused S. Amurudheen has been sentenced to Rigorous Imprisonment (RI) for Two Years while L. Vijayalakshmi, M. Shanthi, S. Kamatshi, M. Sivakumar and M. Ravichandran Babu have been sentenced to Rigorous Imprisonment (RI) for Six Months. Total fine of Rs. 60,000 has been imposed on 06 accused persons.
The 04 Private accused persons, namely, Smt. Jailani Beevi, A. Srinivasan, N. Manoharan, and S. G. Sekar expired during the trial and charges against them were abated. Public Servant, S.R. Gnanasekar, Branch Manager, United Bank of India, and private person, M. Chakravarthy have been acquitted while Public Servant, P.B. Sampath Kumar, Panel Advocate, United Bank of India, has been discharged.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.