Jalandhar, April 15, 2013: The Special Judge for CBI Cases, Coimbatore (Tamil Nadu) has convicted T. Kandasamy, former Rural development Officer of Indian Bank and sentenced him to undergo three years imprisonment in five connected cases of bank fraud and sentenced him to undergo three years Rigorous Imprisonment in all the five cases with total fine Rs.1,00,000 .
CBI registered a case against T. Kandasamy, former Rural Development Officer of Indian Bank, Udumalpet branch, Coimbatore (Tamilnadu) based on the allegations that during the year 1995 to 2002 , the accused person had abused his official position and got sanctioned agricultural crop loans in the names of fictitious persons by way of creating forged & fabricated loan documents in the names of the fictitious loanees. Further, he en-cashed the loan proceeds of such fraudulent loans by opening fictitious accounts in the names of the non existing loanees and operated them by forging the signatures.
After the investigation of the case, CBI filed charge sheet before Special Judge for CBI Cases, Coimbatore on 07.01.2004 against T. Kandasamy in five connected cases covering 15 fictitious crop loans raised by the accused person U/s 420, 467, 468, 471 of IPC and sec 13(2) r/w 13(1)(d) of PC Act, 1988 for causing total loss of about Rs. 3,32,000 to Indian Bank.
The Trial Court found the accused guilty and convicted him.