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CBI court convicts 5 in Meghalaya
Correspondent SHILLONG, SEPT 30:
Published on 30 Sep. 2010 11:52 PM IST
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A special Central Bureau of Investigation (CBI) court in Meghalaya convicted five persons, including top official of the Punjab National Bank (PNB), to two years’ imprisonment for their involvement in a loan scam amounting to Rs 69.75 lakh. Special Judge S.R. Sen announced the imprisonment along with a fine of Rs 5,000 each. Criminal case against the five was registered in 1992 while chargesheet was filed in March 1994 under the Prevention of Corruption Act, 1988.
Vengala Rangacharyulu, the then Assistant General Manager of PNB along with other accused had shown undue favour to the Director of M/s Tricon Hotel Pvt Ltd., Shillong by sanctioning loan and advances on the basis of false documents for the creation of a 3-star hotel in Shillong in 1988. CBI’’s legal prosecutor VK Jindal said the amount taken on loan basis was never put use. Rangacharyulu and Hari Narayan Wadhwa were convicted as being the key men behind the scam, while Jahar Lal Das, the then senior accountant at the Office of AG(Assam), Dhiresh Chakraborty, the then director of M/S Tricon Hotels and Aparesh Purkayastha were also convicted in the case.

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