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BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
K.K. RAMAKRISHNAN, J.
S. Ayyamani - Appellant
Versus
The Inspector of Police, CBI/EOW/Chennai - Respondent
Crl. Appeal (MD) No. 47 of 2019
Decided On : 04-03-2025
| Table of Content |
|---|
| 1. conviction and penalties outlined. (Para 1) |
| 2. background of conspiracy and fraud against indian bank. (Para 2 , 4) |
| 3. arguments regarding the appellant’s responsibility and procedures followed. (Para 5) |
| 4. state's rebuttal on continuity of trial despite death of accused. (Para 6) |
| 5. court's discussion on abatement of charges. (Para 7) |
| 6. court's analysis of the evidence and procedure on loan approval. (Para 8) |
| 7. final conclusion and modified sentence. (Para 9) |
JUDGMENT
1. The appellant A1 in the C.C.No.7 of 2010, on the file of the II Additional District Court for CBI Cases, Madurai has filed this appeal before this Court, challenging the judgment dated 05.02.2019 whereby, the learned trial Judge convicted the appellant for the following offences:
| S. No | Offences under Section | Punishment (Imprisonment and fine) |
| 1 | 120-B r/w 409 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 2 | 120-B r/w 420 of IPC | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 3 | 120-B r/w 420 r/w 109 of IPC | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 4 | 120-B r/w 467 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 5 | 120-B r/w 468 of IPC | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 20,000/- in default to undergo Simple Imprisonment for One year |
| 6 | 120-B r/w 471 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 7 | 120-B IPC r/w 13(2) r/w 13(1) (c) of Prevention of Corruption Act, 1988 | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 8 | 120-B of IPC r/w 13(2) r/w 13(1) (d) of Prevention of Corruption Act, 1988 | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 9 | 409 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 10 | 420 of IPC | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 11 | 467 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 12 | 468 of IPC | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 20,000/- in default to undergo Simple Imprisonment for One year |
| 13 | 471 of IPC | Undergo Rigorous Imprisonment of 10 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 14 | 13(2) r/w 13(1)(c) of Prevention of Corruption Act, 1988 | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| 15 | 13(2) r/w 13(1)(d) Prevention of Corruption Act, 1988 | Undergo Rigorous Imprisonment of 7 years and to pay a fine of Rs. 25,000/- in default to undergo Simple Imprisonment for One year |
| Total Fine | Rs.3,65,000/- |
2. Brief facts of the case:
Sree Gokulam Chit and Finance Co.Pvt.Ltd., Chennai made fixed deposit of Rs.6,00,00,000/- (Six Crores Only) in Indian Bank, Kadayanallur Branch, Tirunelveli, wherein, the appellant was working as a manager. He, A2/Dr.K.Venkateswaran(Deceased), A3/Smt.Maya Ram and the remaining accused conspired together to cheat the bank and defraud the bank amount by availing a loan of Rs.3,96,00,000/- (Three Crores Ninety Six lakhs only) on the basis of the forged F-93 (third party letter of pledge of securities) of Sree Gokulam Chit funds with forgery of the signature of the authorised representative of Sree Gokulam Chit funds and obtained the loan and misappropriated the said amount and thereby caused wrongful loss to the bank
The court emphasized that a trial can proceed against a living accused despite the death of a co-accused, maintaining that accusations cannot be abated due to such circumstances.
Public servants convicted of misappropriation and forgery through forged loan applications must be proven to have made false documents and abused their positions, affirming the importance of direct e....
The prosecution could not establish the case against the appellant under Section 120(B)/468 of the Indian Penal Code read with Section 13(2) & Section 13(1)(d) of the Prevention of Corruption Act, 19....
Convictions confirmed despite appeals; conspiracies in financial fraud established through corroborated evidence, with sentences mitigated based on health conditions.
The judgment emphasizes the need for independent evidence for each offense, the distinct and independent nature of certain offenses, and the application of section 26 of the General Clauses Act in de....
The court affirmed that the efficacy of framing charges relies on the existence of sufficient prima facie evidence, without requiring deep merits assessment at the initial stage.
The court ruled that acquittals in conspiracy cases must be based on a holistic appreciation of evidence, rejecting selective readings that undermine victims' rights and public justice.
The prosecution failed to prove beyond a reasonable doubt the offences of conspiracy and forgery against the appellants, with mere suspicion not serving as a substitute for valid evidence.
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