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Court hands jail term to 5 in Rs 18.34cr bank loan fraud case

08 Aug 2023
India
Court hands jail term to 5 in Rs 18.34cr bank loan fraud case
G Dhananjaya Reddy, Director of NexxoftInfotel Ltd was sentenced to undergo four years imprisonment with fine of Rs 10 crore; K. Satyanarayana to undergo four years' imprisoment with fine of Rs 12 crore; G. Nirmala, MD of the company to undergo one year imprisonment with fine of Rs 1 Lakh.Besides, Dinesh Kavoor, director of the company was awarded one year imprisonment with fine of Rs 1 lakh and Rajesh Kumar Madhav, then AGM at UBI branch was sentenced to undergo one year imprisonment with fine of Rs 50,000.The court has also imposed a fine of Rs 1 crore on NexxoftInfotel Ltd.--IANSatk/pgh

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)