The CBI registered the case on 19.05.2010 based on a complaint from Bank of India, against E. Muthuswamy and others, who in conspiracy with the officials, availed various credit facilities by submitting false and fabricated documents and thereby cheated the Bank to the tune of Rs238.97 Lakh.
FinTech BizNews Service
Mumbai, 21 August, 2026: The CBI Court, Chennai, on 19.08.2026, has convicted and sentenced the six accused, including four public servants namely, N. Venkatachalam, then DGM, Bank of India, M. Sivakumar,Record Clerk,SholinganallurTaluk office,T.Dasarathan,VAO,Pzhavanthangal M. Manichavelu, VAO, Govt. of Tamil Nadu and two private persons, namely, Smt. O.P. Thamarai Poo, and P. Thandapani to Rigorous Imprisonment for Ten Years with a total fine of Rs 2.70 Crore, in a Bank fraud case.
The Central Bureau of Investigation (CBI) registered the instant case on 19.05.2010 based on a complaint from Bank of India, alleging that the prime accused E Muthuswamy and others in conspiracy with the officials of Bank of India misappropriated the funds of the bank dishonestly and fraudulently availed various credit facilities by submitting false and fabricated documents and thereby cheated the Bank to the tune of Rs.238.97 Lakh.
On completion of investigation, the CBI filed Chargesheet on 28.12.2011 against 12 accused persons including 05 Public Servants and 07 Private Persons.
The Hon’ble Court, after the trial, convicted and sentenced the above-mentioned 06 accused persons, accordingly.
The case against one Public Servant V Umapathy, Suspended Sr Draftsman, Land and Survey Deptt, has been split up in CC 18/2016. Four Private accused persons namely, E Muthusamy, A.Vincent, K Srikanth and Smt M Jothi expired during the trial and charges against them were abated. One accused Smt Lavanya has been acquitted.
