New Delhi, Mar 30 (IANS): A Special CBI Court in Chennai has awarded three years rigorous imprisonment to six accused in connection with a bank loan fraud case.

The court while awarding the jail term to accused T. Kumararaja, T. Ashokan, V Anandan, R Ramachandran, T Manishankar and S. Srinivasan also slapped a fine of Rs 40,000 on each.

Apart from them, the court imposed a fine of Rs 3 crore on a private firm A.G.K. Packers while ordering the firm to pay the fine to IDBI bank, City MSME branch, Chennai as compensation.

The CBI had registered a case on the complaint from the branch on June 15, 2012 against A.G.K. Packers represented by its Managing Parner T.Kumararaja and his brother T. Ashokan, the partners in the firm.

It was alleged that in 2009, the accused availed various credit facilities to the tune of Rs 3 crore from the bank by submitting false, fabricated and forged documents as collateral security, and diverted the funds to their personal use and failed to repay the loan. A loss of Rs.3.72 crore was caused to the bank.

After investigation, the CBI filed a chargesheet before the Chief Judicial Magistrate, Trichy on June 5, 2013 against the accused.

The Trial Court found the accused guilty and convicted them.