Chennai: A special CBI court in the city has sentenced three persons, including the managing director and CEO of a private software company, to five years of rigorous imprisonment in a bank fraud case involving Rs 1.24 crore.The court convicted Palpap Ichinichi Software International Ltd., its MD and CEO P Senthil Kumar, and two others — PA Sasi Kumar and P Thanjai Chezian.The accused Senthil Kumar, Sasi Kumar and Thanjai Chezian were sentenced to five years of rigorous imprisonment and were imposed a total fine of Rs 11.7 lakh. The court also imposed a fine of Rs 1.2 lakh on the company.The CBI said the case was registered on Nov 14, 2008, based on a complaint from the State Bank of India, Chennai.Investigation revealed that the accused entered into a criminal conspiracy to obtain and disburse personal loans under the bank’s Express Credit Scheme in the names of fictitious employees of the company, thereby cheating the bank to the tune of Rs 1.24 crore.After completing the investigation, the CBI filed a chargesheet on Dec 11, 2009, against the company, Senthil Kumar, G Vaidyanathan, PA Sasi Kumar and P Thanjai Chezian.During the pendency of the trial, accused G Vaidyanathan died and the charges against him were abated.
