A special court convicted RSPL's MD Pradeep Rathi, CEO Udit Rathi and AGM Kushal Aggarwal.
A special court has sentenced Rathi Steel and Power Ltd (RSPL)'s three senior officials on Wendesday in the case pertaining to irregularities in the allocation of Kesla North coal block in Chattisgarh.
The three, including RSPL were convicted in the case on Tuesday.
On Wednesday, Pradeep Rathi, Managing Director, RSPL, and Chief Executive Officer Udit Rathi, were sentenced to three years in jail. Additional General Manager Kushal Aggarwal, was sentenced to two years behind bars.
Additionally, the three RSPL officials will be liable to pay a penalty of Rs 25 lakh, Rs 45 lakh and Rs 5 lakh, respectively. The company has also been slapped with a fine of Rs 50 lakh, according to Zee Business.
On Tuesday, Special CBI judge Bharat Parashar held the firm and its officials -- Managing Director Pradeep Rathi, Chief Executive Officer Udit Rathi and AGM Kushal Aggarwal -- guilty of offences including cheating (section 420) and criminal conspiracy (section 120-B) of the IPC.
"I am holding you all guilty," the judge said and ordered that the convicts be taken into custody. The court has put up the matter for hearing on arguments on sentence for later in the day.
The court had earlier framed charges against RSPL and its three officials for the alleged offence of criminal conspiracy read with cheating under the IPC, observing that they had conspired and furnished wrong information to get coal block and misappropriated nationalised natural resources.
The three accused were earlier granted bail after they had appeared in court pursuant to summons.
CBI had charge sheeted RSPL and Udit Rathi as accused for the alleged offences of criminal conspiracy and cheating.
All the accused had denied the charges against them.
(With agency inputs)
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