Chennai: The Adayar branch manager of Punjab National Bank and four others were convicted by CBI special court Chennai.

The anti-corruption branch of CBI, Chennai, had probed a case against senior manager P S Ramanarayan, senior regional manager H B Subramanian, Adayar branch manager K Y Subramanian and proprietors of various private firms in Chennai.

The charge was that the accused entered into a criminal conspiracy with the private persons and fraudulently and dishonestly sanctioned various facilities like term loan and credit and bill discounting on forged and fake documents submitted as collateral security by the private firms.

It caused the bank a loss of Rs.3.34 crores.

During trial, Ramanarayanan died and charges against him were abated. On Monday, additional special judge for CBI Cases K Venkatasami convicted branch manager Subramanian along with proprietors of private firms, D Kalaiselvam and N Devaraj, and sentenced them to undergo two years of rigorous imprisonment.

A total fine of Rs.14 lakh and 3-year imprisonment were imposed on two private company owners, S.Vijayakumar and S.Ravi.

Senior regional manager Subramanian was acquitted.