Crime-Justice

CBI court gives 3 year imprisonment to Vijaya Bank manager and 10 others in fraud case

October 10, 2017 12:12 AM

Punjab News Express/ SK.Vyas        
NEW DELHI: The Special Judge for CBI cases, Visakhapatnam has sentenced 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,Dabugottu Srinivas Rao;Lagudu Pavan Kumar;Lagudu Durga Prasad;  Ruttala Hari Prasad;Rambha Gopinath Chandra Gupta; Bettina Veera Venkata Rama Gopala Babu; Maruboyina Ashok Babu; Makka Stalin Babu & 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.

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