Himachal

THREE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.15.25 LAKH TO THEN MANAGING DIRECTOR OF A PRIVATE FIRM

January 06, 2017 06:32 PM

 Ernakulam(Kerala) (Face2News)

The Chief Judicial Magistrate, Ernakulam(Kerala) has sentenced  C.A. Nazar, then Managing Director of M/s Fifa Builders Pvt. Ltd. & Promoter of Fifa Towers, Kochi to undergo three years Rigorous Imprisonment with fine of Rs.15.25 lakh.   CBI registered a case on the allegations that Shri C.A. Nazar during the year 1999, cheated LIC Housing Finance Ltd., Ernakulam by illegally taking loans in the names of different persons & using forged documents. The accused filed forged applications to the LIC Housing Finance Ltd. in the names of different persons and forged connected valuable documents like Agreements, General Power of Attorney, Tripartite Agreement, Authorisation by the borrower, Sworn affidavit etc. The LIC Housing Finance Ltd., Ernakulam sanctioned & disbursed a total amount of Rs.27.09 lakhs to the accused on the basis of forged documents.  The Trial Court found the accused guilty and convicted him.  

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