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THREE YEARS RI TO THEN BRANCH MANAGER OF VIJAYA BANK AND TEN OTHERS IN BANK FRAUD CASE

October 10, 2017 11:26 AM

CBI had registered a case on the allegations that during the year 2005-06, Sri Bandi Babu Rao then Branch Manager, Vijaya Bank, Eluru Road, Vijayawada colluded with other accused (Builders, Panel Valuers & loanees) and dishonestly processed, sanctioned & disbursed housing loans based on fake documents including fake income proofs, false valuation & fake Municipal Approval. 

Visakhapatnam (Face2News)

The Special Judge for CBI cases, Visakhapatnam has sentenced Sri Bandi Babu Rao then Branch Manager, Vijaya Bank, Eluru Road, Governorpet, Vijayawada, Krishna District to undergo three years Rigorous Imprisonment with fine of Rs. 20,000/- and Ten Private Persons i.e Sri Anumukonda Veera Venkata Narayana Rao, Sri Dabugottu Srinivas Rao; Sri Lagudu Pavan Kumar; Sri Lagudu Durga Prasad; Sri Ruttala Hari Prasad; Sri Rambha Gopinath Chandra Gupta; Sri Battina Veera Venkata Rama Gopala Babu; Sri Maruboyina Ashok Babu; Sri Makka Stalin Babu & Sri Gazula Venkata Ramana to undergo three years Rigorous Imprisonment with fine of Rs. 15,000/- each.

CBI had registered a case on the allegations that during the year 2005-06, Sri Bandi Babu Rao then Branch Manager, Vijaya Bank, Eluru Road, Vijayawada colluded with other accused (Builders, Panel Valuers & loanees) and dishonestly processed, sanctioned & disbursed housing loans based on fake documents including fake income proofs, false valuation & fake Municipal Approval. An alleged loss of Rs. 169.6 lakh was caused to the Vijaya Bank.After investigation, a chargesheet was filed against the accused persons. The Trial Court found the accused guilty and convicted them.

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