The Additional Chief Metropolitan Magistrate for CBI Cases, Egmore, Chennai (Tamil Nadu) has sentenced 3 accused, including the CEO cum Chairman of a private company, to undergo five years of Rigorous Imprisonment. A combined fine of Rs 2,10,62,000 has also been imposed on the accused persons and the said company. P. Senthil Kumar, then CEO cum Chairmen of Palpap Ichinichi Software International Limited, was sentenced to undergo five years of Rigorous Imprisonment with a fine of Rs 2,07,62,000, and S. Kalidasan, H. Jayakumar & Thanjan Chezianare, both to undergo five years RI with a fine of Rs 1,00,000 each. The Court has also imposed a fine of Rs 1,00,000 on Palpap Ichinichi Software International Ltd. (represented by its Chairman, P. Senthil Kumar).
CBI filed cases against Senthil Kumar, Chairman of Palpap Itchinichi Software International Ltd
CBI had registered a case on a complaint from the Bank of India on September 27, 2008, against P. Senthil Kumar, CEO cum Chairman of Palpap Itchinichi Software International Ltd., and others. It was alleged that the accused opened 149 loan accounts under the Star Personal Loan Scheme at Bank of India, Anna Salai Branch, Chennai, in the names of fictitious persons showing them as employees of his company and got the loans sanctioned by fabricating Salary Slips and identity Cards in the names of loanees. The loan amounts were not repaid, thereby causing a loss to the tune of Rs 206.87 lakh to the Bank of India.
Trial Court found the accused guilty
After an investigation, a chargesheet was filed on September 30, 2009, against the accused. The Trial Court found the said accused guilty and convicted them.
