Madras High Court Sentenced Bank Employee and Wife to 5 years Jail

The Madurai Bench of the Madras High Court has sentenced five people, including former officials of the Debt Recovery Tribunal (DRT), Madurai, and a bank manager, to five years of rigorous imprisonment (RI) and a total fine of ₹27 lakh.

Who Are the Convicted People?

The people sentenced by the court are:

1. Shri S. Kasimayan – Former Recovery Officer at DRT, Madurai.
2. Shri Selvaraj – Former Upper Division Clerk (UDC) at DRT, Madurai.
3. Shri N. Venkeeshwaran – Former Branch Manager of Dhanalakshmi Bank, Madurai.
4. Shri R. Rajesh Kannan – A private individual.
5. Smt. R. Anitha – Wife of Shri Selvaraj (the accused UDC of DRT, Madurai).

What Was the Crime?

The CBI (Central Bureau of Investigation) filed a case on March 30, 2009, against these individuals. It was found that in 2008, Shri S. Kasimayan, who was the Recovery Officer at DRT, fraudulently lowered the “Upset Price” of properties (the minimum price at which a property can be sold in an auction).

These five people conspired together to fix property prices much lower than the actual market value, causing a financial loss to the bank and the property owner. Meanwhile, they gained an unfair financial advantage for themselves.

Court Decisions Over the Years

1. CBI filed a chargesheet on June 6, 2011, after completing its investigation.
2. Trial Court Decision (December 7, 2016): The Trial Court acquitted all the accused, meaning they were found not guilty at that time.
3. CBI Appeals: CBI was not satisfied with the acquittal and filed an appeal against this decision.
4. High Court’s Decision: The Madurai Bench of the Madras High Court reviewed the case and overturned the acquittal, sentencing all five accused to five years of rigorous imprisonment (RI) and fines:
   • Shri S. Kasimayan and Shri N. Venkeeshwaran – ₹6 lakh each
   • Shri Selvaraj, Shri R. Rajesh Kannan, and Smt. R. Anitha – ₹5 lakh each

Latest Development – Supreme Court’s Decision

One of the accused went to the Supreme Court for relief. On March 27, 2025, the Supreme Court allowed the High Court to continue with the sentencing but ruled that the punishment will remain suspended for three weeks.

Following this direction, the Madurai Bench of the Madras High Court has suspended the sentence for now.