Chennai, August 20, 2026 (Yes Punjab News)
A special CBI court in Chennai has sentenced a former Deputy General Manager of Bank of India and five others, including three former Tamil Nadu government employees, to 10 years of rigorous imprisonment in a bank fraud case involving a loss of nearly ₹2.39 crore.
The court also imposed a combined fine of ₹2.70 crore on the six convicts, according to the Central Bureau of Investigation (CBI).
Those sentenced are former Bank of India DGM N. Venkatachalam; M. Sivakumar, a former record clerk at the Sholinganallur taluk office; T. Dasarathan, then Village Administrative Officer at Pazhavanthangal; former Village Administrative Officer M. Manichavelu; and private individuals O.P. Thamarai Poo and P. Thandapani. All six were awarded identical prison terms.
The CBI registered the case on May 19, 2010, based on a complaint filed by Bank of India. The agency alleged that the principal accused, E. Muthuswamy, and others conspired with bank officials to divert the lender’s funds by obtaining credit facilities through false and fabricated documents.
According to the prosecution, the alleged transactions resulted in a loss of ₹238.97 lakh to the bank. The CBI filed a charge sheet against 12 accused on December 28, 2011, comprising five public servants and seven private individuals.
The trial continued for several years before the court delivered its verdict against the six surviving accused.
Proceedings against V. Umapathy, a suspended senior draftsman in the Land and Survey Department, were separated and are continuing in another case, CC 18 of 2016. Four private accused — E. Muthuswamy, A. Vincent, K. Srikanth and M. Jothi — died during the trial, following which proceedings against them were abated.
Another accused, Lavanya, was acquitted by the court.
The CBI statement did not specify the offences for which the six accused were convicted or provide further details about the loan accounts and properties allegedly involved in the fraud.
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