Criminal case against former SBI official for diverting Rs 59 lakh worth funds

The accused is Peri Bala Tripura Sundari, the then relationship manager of small enterprises, SBI, Chirag Ali Lane. 

Published: 04th December 2018 02:35 AM  |   Last Updated: 04th December 2018 12:25 PM   |  A+A-

Rs 2000, cash,money

For representational purposes (File | Reuters)

By Express News Service

HYDERABAD:  The CBI on Monday registered criminal cases against former deputy manager of State Bank of India for misusing her powers and making transactions in borrowers accounts and causing wrongful loss to the bank to the tune of 59 lakh. The accused is Peri Bala Tripura Sundari, the then relationship manager of small enterprises, SBI, Chirag Ali Lane. 

“The accused officer made transactions in the account of Jagadeeswar Rao and Co, AutoZone, Parsa Venkatanarayana Swamy, SBI, Amalapuram branch and diverted the funds into the account of Vertex Engineers and Lambourne and projects, Naresh Reddy’s accounts and Peri Sri Valli’s account,  the sister of accused officer,” CBI officials said.  

The issue came to light after Jagadeeswar lodged a complaint with SBI officials in March stating that some funds have been diverted from his account. Probe was conducted and it was revealed that officer had committed the irregularities.   Later AGM of  SBI B Mahesha has submitted a report to the CBI officials for taking action.

Loan fraud: Three get a 3-yr jail term
The third additional special judge for CBI cases convicted five persons for submitting fake documents and obtaining loans. The court awarded three years imprisonment to the accused. The convicted are  Ch Laxminarayana, former chief manager, SBI; Padmarao Nagar Branch, private persons -- Vijay Kumar, Kishore, Ashok Kumar and  B Sudesh Kumar. 

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