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A special court for Central Bureau of Investigation cases on Wednesday sentenced 10 persons to various period of rigorous imprisonment ranging from one to seven years in a bank fraud case booked in 2013.

Of them, five have been sentenced to 7 years, four to 3 years and the remaining one to 1 year imprisonment besides a fine on six private companies for causing loss of Rs 4.57 crore to Bank of Maharashtra.

The convicted persons were Sarath Babu Jelly, then senior manager, Suhas Kalyan Ramdasi, then assistant general manager, both of Bank of Maharashtra Secunderabad branch apart from D. Sridhar, D.Purna Sri, M. Srinivas Reddy, M.Laxma Reddy, V.Srinivas, V.Raja Reddy, V.Narasaiah, B. Satya Suraj



Reddy.

The court also imposed fines on Maven Life Sciences Pvt Ltd, Graupel Pharma Pvt Ltd, Conferro Health Carte Pvt Ltd, Hyderabad Tablet Tools, Kiran Impex Pvt Ltd and Sri Vaishnavi Pharma Chem.

The CBI had registered a case in March 2013, against the suspects on the allegations that they had conspired with private companies between 2012 and 2013 by sanctioning a working capital limits for Rs.5 crore and subsequently diverted the funds for other purpose other than the sanctioned, on fabricated documents. Thus causing a loss to the tune of Rs.4.57 crore to the bank.

After investigation, a chargesheet was filed against them in August 2014. The court during the trial found them guilty and sentenced them to imprisonment.

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