VISAKHAPATNAM: PrincipAl Special Judge BSV Hima Bindu of CBI Court on Friday convicted 10 persons, including two bank officials, and imposed a fine of Rs 3.30 lakh on them in a fraud case. The court sentenced Surendranath Datti, the then assistant general manager-cum-centre head, IDBI Bank, Vizag Retail Asset Centre, Siripuram Junction, to undergo two years imprisonment and pay a fine of Rs 1 lakh.
Dwibhashyam Karthik, the then assistant manager of IDBI Bank, was sentenced to undergo two years imprisonment and a fine of Rs 30,000 was slapped on him. Eight others, including two panel valuers of the bank, were sentenced to rigorous imprisonment of one year and imposed fines ranging from
Rs 20,000 to Rs 40,000. The other accused are Jancy Prasad Kaza, Kaza Ambika Prasad, Kotha Kama Raju, Yanamala Surya Narayana Reddy, Yanamala Sairam Tulasi, Belagam Srinivasa Rao, Gudla Ramesh, and Gudla Sangeetha.
According to the prosecution, Surendranath and Karthik, in connivance with borrowers, direct sales associates, panel valuers and engineers, sanctioned and disbursed loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL reports, violating the laid down procedures and norms of IDBI Bank and failing to ensure property security. The accused persons caused a total wrongful loss to the tune of Rs 2.01 crore to IDBI Bank.