FOUR YEARS RIGOROUS IMPRISONMENT WITH FINE OF Rs. FOUR LAKHS TO A PROPRIETOR OF CHENNAI BASED FIRM IN A CHEATING CASE

 The Additional Chief Metropolitan Magistrate, Egmore, Chennai has convicted Sh. S.M. A.K.Rahman (a private person) and sentenced him to undergo four years Rigorous Imprisonment with fine of Rs.4 lakhs in a cheating case.

A case was registered on 31.05.1991 against Shri S M A K Rahman, Proprietor of M/s. Yacoob Industries, Chennai and a Chartered Accountant, Chennai on the allegation that they had entered into a criminal conspiracy during the year 1989 to cheat Indian Bank, Triplicane Branch, Chennai by way of availing Medium term loan. In pursuance of the said conspiracy, Shri S.M.A.K.Rahman opened a Current Account in the name of M/s Yacoob Industries with Indian Bank, Triplicane Branch, Chennai and submitted loan application along with false & forged documents i.e. Project Report, Assets & Liability Certificate, Lease Deeds, Auditors Certificate and advance Certificate with the help of other accused and got sanctioned Medium Term Loan amounting Rs.2.25 lakhs. The accused persons misutilized the loan amount for their personal needs and the said loan amount was not repaid to Bank. Thus, a loss to the tune of Rs. 2.99 lakh(approx) was caused with cumulative interest to Indian bank.

After investigation of the case, a chargesheet was filed against both the accused persons by CBI before the court of Additional Chief Metropolitan Magistrate, Egmore, Chennai U/s. 120-B r/w 420, 420 IPC.

On completion of trial, Additional Chief Metropolitan Magistrate, Egmore, Chennai convicted. Shri. S M A K Rahman U/s. 420, 468 & 471 IPC and acquitted the other accused (a chartered Accountant of Chennai).

Source- CBI

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0 responses to “CA from Chennai acquitted in Cheating Case”

  1. jay says:

    what a quick decision!!! – case relates to 1989, loan amount was 2.25 lacs
    & judgement after 23 years!!! are the persons involved traceable ???

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