In a bank fraud case where Central Bank of India, Coimbatore Main Branch, Coimbatore was cheated to the tune of Rs. 1.41 Crores, Hon’ble Special Judge (II Addl. District and Sessions Judge) for CBI cases, Coimbatore pronounced Judgment on 29.12.2022 convicting all the three accused persons, sentencingthem to undergo 3 years Rigorous Imprisonment (RI) each and also levied a total fine of Rs.1,50,000.

The case was registered on 21.02.2011 by CBI on the basis of source information that  M/s.Chemfree Vegetable (P) Ltd, Chennai, represented by its Managing Director, A-1 Shri S.Sakthivel, S/o Late K.Shanmugam, R/oPlot No.5, F-1, 1st Floor, Muthulakshmi Complex, Kushal Das Street, Saligramam, Chennai-600 093;A-2 Shri M.Vellaichamy, Sr. Manager (Retd.), Central Bank of India, Coimbatore Main Branch, Coimbatore, S/o Late Mamathy, R/o No.1342, Subramaniyapuram, Govt. Servant Colony, 1st Street, Pudukkottai-622 003(TN);  and A-3 Shri C.Bommaiya, (Pvt. Person) S/o Late Chinnaraj, R/o M2-4, Mullainagar, Aranmanaipudur Post, Theni District (TN) cheated Central Bank of India to the tune of Rs.1,41,44,861/- by submitting forged documents to the Bank, using them as genuine got loan sanctioned and funds released which was fraudulently withdrawn by the accused and was never repaid. In the process, A-2 M.Vellaichamy, abused his official position as Public Servant and shown undue favour to the accused persons thereby causing wrongful loss to the Bank with corresponding wrongful gain to themselves/others. The total outstanding amount of the account is Rs.1,41,44,861/- including interest as on 23.09.2011.

After investigation, a Charge Sheet was filed against  A-1 Shri S.Sakthivel, A-2 Shri M.Vellaichamy and A-3 Shri C.Bommaiya in CC No.14/2011, on29.09.2011, U/s.120-B r/w  420, 467, 468 and471 IPCand sec.13(2) r/w 13(1) (d) of PC Act, 1988 & substantive offences thereof. On completion of trial, court pronounced judgement on 29.12.2022 convicting all the three accused persons of all the charges framed against them.