CBI Corruption Case: Madras HC Sentences Ex-DRT Officials to 5 Years Rigorous Imprisonment  Along with Rs. 27 Lakh Fine [Read Order]

In a Press release, the Madurai Bench of Madras High Court sentenced five accused including then Recovery Officer and then Official of DRT, then Branch Manager of Dhanalakshmi Bank and two others to 5 years’ of rigorous Imprisonment with total fine of Rs 27 lakh in CBI Corruption case.

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Five accused were sentenced by the Madurai Bench of the Madras High Court: two private individuals, Shri R. Rajesh Kannan and Smt. R. Anitha, who were the spouses of the accused UDC of DRT, Madurai; Shri S. Kasimayan, who was the Recovery Officer at the time; and Shri Selvaraj, who was the UDC at the time; and Shri N. Venkeeshwaran, who was the Branch Manager of Dhanalakshmi Bank, Madurai. The Trial Court already cleared them. In the instance of abusing their official position to fix the upset price of properties below the market value, the offenders were convicted to five years of Rigorous Imprisonment (RI) and a total punishment of Rs 27 lakh.

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On March 30, 2009, the CBI filed the current case against the aforementioned defendant. Accused Shri Kasimayan, who was the Recovery Officer of DRT, Madurai at the time, was accused of fixing the upset prices of the properties fraudulently, well below their 2008 market value. Together, the accused caused an unlawful loss for the bank and the property owner, as well as a corresponding wrongful gain or financial advantage for themselves.

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Following the conclusion of the inquiry, the CBI issued a charge sheet against the accused on June 6, 2011, which included the accused who had been found guilty by the court. In its 07.12.2016 order, the Trial Court cleared all of the defendants. CBI appealed the acquittal in a criminal case.

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