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Telgi fine was Rs 252 cr

Telgi has been fined Rs 252.28 crore while the CBI has maintained that the actual money involved in the scam is not more than Rs 172 crore, reports Yogesh Joshi.

india Updated: Jun 30, 2007 05:44 IST
Yogesh Joshi

Abdul Karim Telgi may have been convicted and sentenced in one of the biggest cases against him in the fake stamp paper scam but the spotlight is still on the case, what with more interesting details coming out.

The special MCOCA court on Friday issued the order of Telgi’s sentence, ending the confusion over the actual fine slapped on him. Interestingly, Telgi has been fined Rs 252.28 crore while the Central Bureau of Investigation has all along maintained that the actual money involved in the scam is not more than Rs 172 crore.

It has said the fake stamp papers worth Rs 3,000 crore that were recovered from Mumbai never made it to the market and, hence, cannot be considered while deciding the magnitude of the case.

Found guilty under five sections of the Maharashtra Control of Organised Crime Act and 17 sections of the Indian Penal Code, Telgi has been sentenced to a maximum 13 years rigorous imprisonment and fined a maximum Rs 50 crore, or an additional three years in jail in case of defauilt — adding up to Rs 252.28 crore.

The court order states that while the actual sentences can run concurrently, the punishment awarded in case of default in payment of fine will have to be served separately. Therefore, if Telgi fails to pay up, his 13-year jail term could go up to 30 years — almost a life term.

Legal experts said the fine slapped on Telgi was a new record in the country.