Stating that “white-collar crimes” are “more dangerous to society than ordinary crimes”, a special court Wednesday awarded varying jail terms of up to three years to three top officials of Rathi Steel and Power Ltd (RSPL), convicted in a coal blocks allocation scam case.
Special Judge Bharat Parashar had Tuesday held RSPL and its three officials guilty of cheating and criminal conspiracy in allocation of Kesla North coal block in Chhattisgarh. He sentenced RSPL’s CEO Udit Rathi, 34, and MD Pradeep Rathi, 60, to three-year imprisonment. The firm’s AGM Kushal Aggarwal, 35, was given a sentence of two years in jail.
“…White collar crimes are more dangerous to the society than ordinary crimes, for the damages it inflicts on public morale and at the same time the financial loss caused are much higher,” the judge said. “It is, however, also true that to find criminality in such acts committed by ‘white collar criminals’ is often a difficult task…”
The court imposed a fine of Rs 50 lakh each on RSPL and Rathi, Rs 25 lakh on Pradeep Rathi, and Rs 5 lakh on Aggarwal.