On 04.03.2020, the Hon’ble Judge for Exclusive Spl Court for MPs/MLAs, Chennai convicted Shri K. N.Ramachandran, Chairman cum Managing Trustee of M/s Kannamal Eductional Trust and 02 other private persons in a case filed by CBI.
The Anti-Corruption Branch of CBI, Chennai investigated in Crime No. RC 04(A)/2015 under sections U/s 120 B IPC r/w 11 PC Act 1988 and Sec 13(2) r/w 13(1)(d) of PC Act 1988 and filed charge sheet against A-1 R.Thiagarajan, Senior Regional Manager, Central Bank of India, Chennai, A-2 R.Rajasekaran, Chairman, M/s Sakthi Mariamman Engineering College and A-3 K N Ramachandran, Ex MP, (AIADMK), Sriperumbudur constituency & Chairman cum Managing Trustee of M/s Kannamal Educational Trust (A-4). The accused persons entered into a criminal conspiracy during the period from 09.07.12 to 17.09.13 and availed term loans in the name of M/s Kannamal Education Trust, Chennai in excess of the permissible limit of Regional Manager thereby caused wrongful loss to the tune of Rs 17.28 crores to the bank and corresponding wrongful gain to themselves
On completion of trial, all the three accused persons were convicted and A-1 R.Thiagarajan was sentenced to undergo RI for 5 years & to pay a fine of Rs 13,10,000/- in total and A2 R.Rajasekaran & A3 K N Ramachandran were sentenced to undergo RI for 7 years each and were imposed a fine of Rs 1,11,00,000/-each. A-4 M/s Kannamal Educational Trust was imposed a fine of Rs 15,20,00,000/-. (Total fine Rs. 17,55,10,000/-)
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