6 people convicted for cheating nationalised banks

New Delhi, Dec 14 (UNI) Six people were convicted by CBI courts in two separate cases for cheating nationalised banks in Kerala and Tamil Nadu.

Kailash Chand Gupta and Vikas Gupta, both partners of a private firm KVA Bros based in Mattancherry, Cochin, were convicted by CBI Special Judge in Ernakulam for defrauding Allahabad Bank, Mattancherry of Rs 24.53 lakh, a statement said here today.

The duo was sentenced to five-year Rigourous imprisonment and fined Rs two lakh each.

In the other case, Special CBI Judge in Madurai convicted Raj Kafur, John Fernando, Sharmila and S Arumugham, a Canara Bank official, and punished them with various prison terms besides imposing hefty fines for defrauding Canara Bank of Rs 76.58 lakh.

Raj Kafur was handed down a sentenced of seven-year RI and imposed a fine of Rs 35 lakh, John Fernando was sentenced to five- year RI and fined Rs ten lakh, Sharmila was sentenced to three- year RI and fined Rs ten lakh while S Arumugham was sentenced to three-year RI and fined Rs one lakh.

However, two persons -- S Sunder Singh and T Mohan -- were also acquitted in the case.

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