Former Indian Bank's CMD sentenced to undergo rigorous imprisonment

On completion of trial, M Gopalakrishnan and Sai Jagannathan were convicted and sentenced to three years of rigorous imprisonment

Business Standard 2nd July 2016

The Central Bureau of investigation, Chennai, registered and

 investigated cases against Gopalakrishnan, the then officials 

of Indian Bank, namely N Kumarasamy, Credit Monitoring 

Officer of Zonal Office, V N Balakrishnann Regional 

Manager (South), Srinivasa Raghavan, Sr Manager (Credit), 

Regional Office, A R Arunachalam, Chief Manager, 

Nandanam Branch, P Vasantha Rajan and S Jayaraman, 

Chief Managers, Saidapet Branch, Solaiappan, (Approver),

 Zonal Manager, Chennai M  Varadarajulu @ M V Raja, 

Principal Advisor of all companies under the MVR group, 

Venky Raman (Approver), CMD of Anderson Industries 

International Ltd, V Krishna Kumar, G Sambasivam,  C S 

Usha Devi, Directors of Anderson Industries International 

Ltd, K Sai Jagannathan, Director of Sathyam Chemicals Pvt 

Ltd, Anderson Industries International Ltd and Sathyam 

Chemicals Pvt Ltd.