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3 years imprisonment awarded to proprietor of Hyderabad-based private firm in cheating case

ANI | Updated: Nov 01, 2019 01:15 IST

Hyderabad (Telangana) [India], Nov 1 (ANI): The Principal Special Judge for CBI cases, Hyderabad has sentenced three years rigorous imprisonment to a proprietor of a city-based private firm in connection with a conspiracy and cheating case.
M. Ravi Kumar, Proprietor, Ravi Steel Tubes, Hyderabad has been sentenced to undergo three years rigorous imprisonment with fine of Rs 25,000 each for offences under Sections 120B, 420 of the Indian Penal Code (IPC), read a statement.
A fine of Rs 25,000 each was also imposed on the firm under the same sections taking the total fine to Rs 1,00,000.

The Central Bureau of Investigation (CBI) had registered a case on October 4, 2002 under Section 120-B, read with 420, 468, 471 of the IPC and Section 13(2) read with 13(1) (d) of PC Act 1988 against Ravi Kumar and other officials of State Bank of Hyderabad on the allegations that the accused conspired together and availed various credit facilities based on bogus collateral securities, violation of bank norms and thereby cheated the bank to the tune of Rs 139.57 lakh.
After investigation, a charge-sheet was filed on August 18, 2004, against the accused. During the trial, two accused died, hence the case against them was abated. (ANI)

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