Chennai CBI Court Convicts Company, Four Directors In ₹5.75 Crore Andhra Bank Fraud Case

A Special CBI Court in Chennai has convicted M/s D.N. International Ltd. and its four directors in a ₹5.75 crore bank fraud case linked to Andhra Bank’s Mowbrays Road Branch during 1999–2000.

The Court found that the company had fraudulently availed credit facilities and diverted the sanctioned funds for purposes other than those approved, causing wrongful loss to the bank.

Following the CBI’s investigation, directors Ketan A. Shah, Mukesh A. Shah, Ashwin H. Shah and Rashmikant Shah were each sentenced to five years’ rigorous imprisonment and fined ₹4 lakh.

The company was also fined ₹4 lakh.