Two Separate Special CBI Courts Deliver Verdicts in Central Bank Housing Loan Fraud Cases

In addition to the Jammu ruling, a Special CBI court in Chennai concluded another housing‑loan fraud case involving former senior bank officials and a private firm. The court sentenced former Senior Manager Deepak V. Menon of the Central Bank of India's Tripleken branch to seven years of rigorous imprisonment and a fine of 65,000 rupees. The Chief Managing Director of Shastru Associates Kadanthatti Private Limited, B. Shivganeshan, received the same term plus a 117,000‑rupee fine, while the company itself was levied a 26,000‑rupee penalty. The Chennai case, registered in April 2009, cited losses exceeding 5.29 crore rupees caused by 28 fraudulent home‑loan approvals between 2006 and 2007.