The Hon’ble Addl. Chief Metrpolitan Magistrate, Egmore, Chennai pronounced Judgment today for convicting the accused persons to undergo 5 Years Rigorous imprisonment and to pay a total fine of Rs.12.9 Lakhs.

Case in RC11/E/2008 was registered  by CBI, EOW, Chennai on 2008 November 14 based on complaint from State Bank of India, Administrative Unit, Chennai. Allegation in brief is that M/s Palpap Ichinichi Software International Ltd. and others entered into criminal conspiracy  in the matter of sanctioning and disbursing personal loans under Express Credit Scheme in the names of fictitious employees of the company M/s. Palpap Ichinichi Software International Limited, Chennai thereby cheated the Bank to the tune of Rs.1.24 Crores.

On completion of investigation charge sheet was filed on 2009 December 11 against Palpap Ichinichi Software International Ltd and other 4 pesons.

 

Details of Judgment is as follows:-

Accused No.	Name of the Accused	Judgment
A-1	M/s Palpap Ichinichi Software International Ltd.	Rs,1,20,000/-
A-2	P. Senthil Kumar, MD & CEO of A-1 Co.	5 Years RI and a fine of Rs.7,90,000/-
A-3	G. Vaidyanathan, Private Person	Charges Abated (Expired)
A-4	P.A. Sasi Kumar, Private Person	5 Years RI and a fine of Rs.1,90,000/-
A-5	P. Thanjai Chezian, Private Person	5 Years RI and a fine of Rs.1,90,000/-

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