Madras HC Affirms CBI's Appeal in Corruption Case, Sentences Five Individuals to 5-Year Jail Term
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Synopsis
The Madras High Court has upheld a CBI appeal and sentenced five individuals, including two former DRT employees and a bank manager, to five years' rigorous imprisonment and a total fine of Rs 27 lakh for corruption, with the Supreme Court temporarily suspending the sentence.
Key Takeaways
- Madras HC upheld CBI's appeal
- Five individuals sentenced to five years RI
- Total penalty of Rs 27 lakh imposed
- Corruption involved misuse of official positions
- Supreme Court temporarily suspended the sentence
Chennai, April 3 (NationPress) The Madurai Bench of the Madras High Court has upheld a CBI appeal, resulting in the sentencing of five individuals to five years of Rigorous Imprisonment (RI) and imposing a total penalty of Rs 27 lakh in a corruption case, as reported by an official on Thursday.
The convicted individuals include S. Kasimayan, the former Recovery Officer at the Debts Recovery Tribunal (DRT), and Selvaraj, the former UDC at the DRT, both found guilty of misusing their official authority to set the upset price or reserve price of properties significantly below their market value.
According to the CBI, the accused worked together to inflict wrongful loss on the bank and property owners while gaining illicit financial benefits for themselves.
The High Court agreed with the CBI's appeal challenging a trial court's earlier decision that had acquitted the defendants. The court also imposed its ruling on N. Venkeeshwaran, the former Branch Manager of Dhanalakshmi Bank, Madurai, along with two private individuals - R. Rajesh Kannan and R. Anitha, the wife of the implicated UDC.
The CBI initiated the case on March 30, 2009, over allegations that Kasimayan deceitfully set the upset prices for properties at lower than market value back in 2008.
Upon concluding its investigation, the CBI submitted a chargesheet on June 6, 2011. The trial court had previously ruled on December 7, 2016, to acquit all accused parties.
In support of the CBI's appeal, the High Court delivered its sentence and imposed a Rs 6 lakh fine on both Kasimayan and Venkeeshwaran.
Selvaraj, along with the two private individuals, was ordered to pay a Rs 5 lakh fine each.
Prior to the sentencing from the High Court, the accused sought intervention from the Supreme Court, which has temporarily suspended the sentence for three weeks starting from March 27.
