Former depot manager sentenced to one year in prison for ₹1.23 crore fraud and misappropriation of company stock
A city court has sentenced a former depot manager of M/s 3F Industries Ltd. to one year in prison for misappropriating company stock worth ₹1.23 crore. The conviction followed an investigation into criminal breach of trust, forgery, and cheating.
Why it matters
It highlights the legal consequences of corporate fraud and the importance of internal auditing in detecting financial misconduct.
A city court has convicted a former depot manager of a private company in a criminal breach of trust and cheating case involving the alleged misappropriation of company stock worth ₹1.23 crore.
The VIII Additional Chief Judicial Magistrate’s Court at Nampally convicted M. Veera Venkata Krishna Rao, a former depot manager with M/s 3F Industries Ltd., in a case investigated by the Chaderghat police.
The court sentenced him to one year simple imprisonment and imposed a fine of ₹10,000 after finding him guilty under various provisions of the Indian Penal Code relating to criminal breach of trust, cheating, forgery and criminal intimidation.
The case was registered in 2017 following a complaint by an authorised representative of the company, which alleged that the accused had diverted company stock while serving as depot manager.
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