Ex-Minister Convicted in Rs 1.25 Crore Cheque Bounce Case

The former Karnataka Minister B Nagendra has been convicted in a cheque bounce case, leading to a Rs 1.25 crore fine. The issue stems from a 2013 financial dispute. Non-payment will result in a one-year jail term.

In a significant legal ruling, former Karnataka Minister B Nagendra has been convicted in a cheque bounce case, with a hefty fine of Rs 1.25 crore imposed on him.

The 42nd Additional Chief Judicial Magistrate, K N Shivakumar, has mandated that Nagendra and two associates pay the penalty, warning of a one-year imprisonment for non-compliance. This case dates back to a financial disagreement from 2013 between VSL Steels Limited and BC Infrastructure and Resources Company, co-owned by Nagendra.

The court initially declared the firm owed Rs 2.53 crore to VSL Steels. However, the setback arose when a Rs 1 crore cheque bounced in 2022, prompting legal action. The resulting court verdict underscores the seriousness of financial trust violations.