Loan fraud case: two former bank officials, seven borrowers jailed

Convicted duped the bank to the tune of ₹43.21 lakh: CBI

The Second Additional Special Judge for CBI cases, G. Satya Prabhkara Rao, on Friday convicted the then Branch Manager of Vijaya Bank, Benz Circle branch - Vijayawada, Mandapudi Benzamin Rajani Kanth and the then Assistant Manager of the bank Yenugula Ramachandra Rao and seven other borrowers to undergo two years of rigorous imprisonment.

As per a CBI release, the bank officials along with the panel surveyor and the seven borrowers cheated the bank to the tune of ₹43.21 lakh, by getting a loan of ₹46.60 lakh sanctioned, using fake and forged documents and inflating the valuation, in 2005.

Others convicted in the case include Donne Kankaratnam, Manda Krupadanam, Gundimeda Seethamma, Garlapati Murli Krishna, Bavarji Savithri, Ojji Lakshmi Kumari and Nimmagadda Prabhakar Rao.

While the two former bank officials were also levied a fine amount of ₹20,000 each, the borrowers were told to pay a fine of ₹4,000 each.

Central Tax Inspector booked

In another case, CBI- Viskhapatnam booked a case against Shaik Jamil Ahmed, Inspector of Central Tax, Divisional Officer, Kadapa GST division, on Friday, for allegedly submitting false information to his department with regard to purchase of a residential flat at Kadapa.

As per a CBI release, apart from submitting false information about the residential flat, it is also alleged that there are substantial cash and RTGS deposits from third parties into his housing loan account and the source for the said cash/RTGS deposits was not properly explained by him. It is also alleged that he failed to properly explain the cash transaction of ₹2 lakh purportedly given by his mother as gift for purchase of flat.

After registration of the case, searches were conducted at the residential and office premises of the accused at Kadapa. During the course of searches, certain alleged incriminating documents were seized.