The Special Judge, CBI Cases, Visakhapatnam has sentenced Shri Surendranath Datti, then Assistant General Manager-cum-Centre Head, IDBI Bank Ltd., Vizag Retail Asset Centre, Siripuram Junction, Visakhapatnam to undergo two years Rigorous Imprisonment(RI) with fine of Rs. One Lakh and Shri Dwibhashyam Karthik, the then Assistant Manager, IDBI Bank Ltd., Visakhapatnam to undergo two years Rigorous Imprisonment with fine of Rs.30,000/- in a Bank fraud case. Further, 8 private persons have been sentenced to one year’s Rigorous Imprisonment along with fine of different amounts. These include Smt. Jancy Prasad Kaza (RI of one year with fine of Rs.20,000/-; Shri Kaza Ambika Prasad, Chartered Accountant & Managing Partner of M/s Ambika &Isha, Chartered Accountants, Visakhapatnam(RI of one year with fine of Rs.20,000/-); Shri Kotha Kama Raju, Panel Valuer of IDBI Bank Ltd & Proprietor, M/s. R.K.Engineers, Visakhapatnam (RI of one year with fine of Rs.40,000/-); Shri Yanamala Surya Narayana Reddy(RI of one year with fine of Rs.20,000/-); Smt. Yanamala Sairam Tulasi (RI of one year with fine of Rs.20,000/-); Shri Belagam Srinivasa Rao, Panel Valuer of IDBI Bank Ltd., Visakhapatnam (RI one year with fine of Rs.40,000/-); Shri Gudla Ramesh, M/s. Fine Steels, Visakhapatnam (RI of one year with fine of Rs.20,000/-) and Smt. Gudla Sangeetha (RI of one year with fine of Rs.20,000/-).
It was alleged that Sri SurendranathDatti, the then Assistant General Manager-cum-Centre Head & Sri Dwibhashyam Karthik, the then Assistant Manager, both working in IDBI Bank Ltd., Vizag Retail Asset Centre, Siripuram Junction, Visakhapatnam in connivance with the borrowers, Direct Sales Associates, Panel Valuers and Engineers, had sanctioned & disbursed the loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL Reports, violating the laid down procedures & norms of IDBI Bank and failing to ensure property security. The accused caused a total loss to the tune of Rs.201.17 lakh(approx) to the IDBI Bank Limited.
After investigation, charge sheets were filed against the accused. The Trial Court found the said accused guilty and convicted them.
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