Face2News/Coimbatore

The CBI Court, Coimbatore on Tuesday convicted and sentenced a private person namely S. Ramesh to Seven Years Rigorous Imprisonment (RI) with a fine of Rs.15,000 in a bank fraud case. 

The Central Bureau of Investigation (CBI) registered the instant case on 04.10.2007, based on a complaint from Deputy General Manager, State Bank of India, Commercial Branch, Coimbatore, against P.M. Sundaram and S. Ramesh, Private persons.

It was alleged that the accused P.M. Sundaram, CMD of M/s Fashion Synccotex Pvt. Ltd., having its Registered office at R.S. Puram, Coimbatore, had submitted fabricated title deeds to State Bank of India, Commercial Branch, Coimbatore, during 1999-2001, and thereby dishonestly and fraudulently availed various credit facilities aggregating to Rs.8.53 crores. The criminal acts of the accused persons caused a wrongful loss of Rs.9.39 crores to SBI, Commercial Branch, Coimbatore and corresponding wrongful gain to themselves. During the course of investigation, the role of one more private person, Mr. Natarajan also came to light. On completion of investigation, charge sheet was filed on 22.12.2008 against P.M. Sundaram, S. Ramesh and Natarajan, all private persons. 

The Hon’ble Court, after the trial, convicted and sentenced the accused S. Ramesh on  Tuesday.Two accused persons namely, P.M. Sundaram and Natarajan expired during the trial and charges against them were abated.