The Special Judge, CBI Cases, Visakhapatnam has sentenced 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 with fine of Rs.1 Lakh and 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 Jancy Prasad Kaza (RI of one year with fine of Rs.20,000, 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), 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), Yanamala Surya Narayana Reddy(RI of one year with fine of Rs.20,000), Yanamala Sairam Tulasi (RI of one year with fine of Rs.20,000), Belagam Srinivasa Rao, Panel Valuer of IDBI Bank Ltd., Visakhapatnam (RI one year with fine of Rs.40,000), Gudla Ramesh, M/s. Fine Steels, Visakhapatnam (RI of one year with fine of Rs.20,000) and Gudla Sangeetha (RI of one year with fine of Rs.20,000).
It was alleged that Surendranath Datti, the then Assistant General Manager-cum-Centre Head & 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, the official note of CBI said on Monday.
After investigation, chargesheets were filed against the accused.The Trial Court found the said accused guilty and convicted them.
