Chennai CBI Court Sentences Tech Firm CEO and Two Others to 5 Years Imprisonment in SBI Fraud Case
CHENNAI, MAY 23, 2026 — A Special CBI Court in Chennai has convicted and sentenced three individuals, including the Managing Director and CEO of a private software firm, to five years of Rigorous Imprisonment (RI) for their involvement in a multi-million rupee bank fraud case. The convicts—Senthil Kumar, MD & CEO of M/s Palpap Ichinichi Software International Ltd., along with two private individuals, P. A. Sasi Kumar and P. Thanjai Chezian—were handed the prison terms alongside a combined personal fine of Rs 11.7 Lakh. Additionally, the court imposed a separate fine of Rs 1.2 Lakh on the involved private software company.
The roots of the case trace back to November 14, 2008, when the Central Bureau of Investigation (CBI) registered a formal complaint following a report lodged by the State Bank of India (SBI), Chennai. Investigations revealed that the company and its top executives had entered into a criminal conspiracy to cheat the bank out of Rs 1.24 Crore. The fraudulent scheme involved securing and disbursing personal loans under SBI’s “Express Credit Scheme” using the profiles of entirely fictitious employees supposedly working for M/s Palpap Ichinichi Software International Ltd.
Following a swift investigation, the CBI filed a comprehensive chargesheet on December 11, 2009, naming the company, Senthil Kumar, P.A. Sasi Kumar, P. Thanjai Chezian, and another private individual, G. Vaidyanathan. Because G. Vaidyanathan passed away while the judicial proceedings were ongoing, the charges against him were officially abated. Upon the conclusion of a rigorous trial, the Hon’ble Court found the remaining accused guilty of the financial conspiracy, bringing the long-standing fraud case to a definitive close with their formal sentencing.