Court imposes Rs.5 crore penalty for cheating

June 5th, 2012 - 7:52 pm ICT by IANS  

New Delhi, June 5 (IANS) A special CBI court here has slapped a penalty of Rs.5 crore on a private firm and awarded two years rigorous imprisonment to its director in a 23-year-old cheating case, said an official Tuesday.

The Central Bureau of Investigation (CBI) official said that in a recently passed order a special court at Saket district court complex convicted Lalit Kumar Parmar, director of Punjab Phosphates Pvt. Ltd., for conspiracy to cheat.

The court imposed Rs.5 crore penalty on the firm for cheating.

Five accused died during the trial in the case registered Nov 11, 1988.

The probe agency said that the accused entered into a criminal conspiracy to cheat the central government on the basis of forged documents and obtained subsidy on fertilizers to the tune of Rs.3.3 crore.

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