A Delhi court on Tuesday sentenced Bhai Manjit Singh, the managing director of Montari Industries, to imprisonment of one year and imposed a fine of Rs 25 lakh (Rs 2.5 million) each on him and his father, Bhai Mohan Singh, the chairman of Montari Industries, on a cheque-bounce case filed by Mudra Ispat, an Ispat Group company, eight years ago.
Mudra Ispat had filed the case under Section 138 read with section 141 of the Negotiable Instruments Act.
While the two were convicted on May 24, the sentence was handed out on June 1 by Ashwani Sarpal, Metropolitan Magistrate, Patiala House.
In its complaint, Mudra Ispat had alleged that Montari Industries, a pesticides company, owed Rs 64,76,546