AP: CBI judge sentences two persons to RI

Hyderabad, Aug 28: The Special Judge for CBI cases here has convicted and sentenced the Managing Director of Nageshwara Chemicals and Drugs to undergo five years rigorous imprisonment for criminal conspiracy.

According to a CBI release here today, the judge also slapped a fine of Rs 5000 on the accused MD N V S Naidu.

The judge convicted and sentenced another accused, owner of Sai Krishna Enterprises P Ramakarishna Rao, to undergo four years rigorous imprisonment and a fine of Rs 5000 on the same count.

Both the accused were convicted for, conniving with Canara Bank officials to inducing the bank to part with loans and misutilised the funds for their personal benefit, thereby causing wrongful loss to the bank to the tune of Rs 82 lakh, the release added.

UNI