SHILLONG, Sept 30 � A special CBI court here has convicted five persons, including a top official of the Punjab National Bank, for their involvement in a loan scam amounting to Rs 69.75 lakh.
Special CBI Judge SR Sen yesterday awarded two years of imprisonment to the convicts along with a fine of Rs 5,000 each.
Vengala Kastury Rangacharyulu, the then assistant general manager of Punjab National Bank along with other accused had shown undue favour to the Director of M/s Tricon Hotel Pvt Ltd., Shillong by sanctioning loan and advances amounting to Rs 69.75 lakh on the basis of false documents for the creation of a 3-star hotel in Shillong in 1988.
Jahar Lal Das, the then senior accountant at the Office of Accountant General, Dhiresh Kumar Chakraborty, the then director of M/S Tricon Hotels, Aparesh D Purkayastha of Shillong and Hari Narayan Wadhwa of New Delhi were also convicted in the case.
According to CBI�s legal prosecutor VK Jindal, the amount was taken on a loan basis but the money was never put into any use.
The CBI had registered cases against the five on January 23, 1992. � PTI