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Madras HC sets aside 7-year jail term for former AIADMK MP in CBI case
SEP 29, 2024, 00:07 IST
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Chennai: Madras high court has set aside the 7-year imprisonment ordered against former AIADMK MP K N Ramachandran for allegedly obtaining a 20 crore loan from a nationalised bank by bribing the bank manager.
“…it is very hard to believe the prosecution case based on the exhibits which bristle with infirmity and do not inspire confidence to treat it as a reliable document,” Justice G Jayachandran said.
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The money taken as loan was allegedly used for expanding a college owned by the former MP under Kannammal Educational Trust when he was the MP of Sriperumbudur constituency from 2014-19.
“This court sets aside the conviction and sentence passed by the Special Court for cases against MPs and MLAs, Chennai, holding it as an outcome of improper appreciation of facts and law,” the court added.
According to CBI, Kannammal Education Trust was formed in 1997, and Ramachandran was the Chairman-cum-Managing Trustee. The trust runs an educational institution Sri Sakthi Mariyamman Engineering College. Central Bank, which was the banker of the trust, sanctioned three term loans to the trust in 2008, out of which one was adjusted. In 2012, the bank sanctioned an overdraft limit of 5 crore to the trust and a new term loan for 2.75 crore.
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https://timesofindia.indiatimes.com/city/chennai/madras-hc-sets-aside-7-year-jail-term-for-former-aiadmk-mp-in-cbi-case/articleshow/113773165.cms#:~:text=Read%20ePaper,YOU%20MAY%20LIKE