TN firm146;s MD gets a year in jail for cheque bouncing

The Managing Director of Alois Security Printers Pvt. Ltd. Bangalore, C.M. Srikanth was sentenced to one year simple imprisonment to run concurrently for cheque bouncing in each of the seven criminal complaints preferred by Tamil Nadu Enterprise and Papers Limited TNPL, a government of Tamil Nadu enterprise, before the ninth Metropolitan Magistrates Court at Saidapet, here during 2000.

The company had issued cheques during 1999 for the purchase of printing and writing paper amounting to Rs 26,17,529 that got bounced when presented for payment.

Magistrate V.P. Ravindran on 30th july 2002, levied a fine of Rs 5000 in each of the criminal complaints to be paid by the accused company.