YSRC MP Charged with Cheating PNB

Published: 01st July 2015 05:23 AM  |   Last Updated: 01st July 2015 05:23 AM   |  A+A-

HYDERABAD:The CBI on Tuesday filed a chargesheet against five persons, including YSR Congress MP Kothapalli Geetha, for allegedly entering into a criminal conspiracy to defraud the Punjab National Bank’s mid corporate branch in Hyderabad up to Rs 42 crore.

The CBI has alleged that the MP in collusion with P Ramakoteswara Rao, then MD of the Hyderabad-based Visweswara Infrastructure Pvt Ltd, misrepresented facts to the bank and secured a short-term loan of Rs 25 crore. The accused diverted the loan amount for purposes other than it was sanctioned for and allegedly cheated the bank, resulting in a loss of Rs 42.79 crore to it, said a CBI press release.

The Araku MP denied the allegations. Admitting that the loan was secured and that they had problems in repayment, Geetha claimed she had no role in the fraud. The chargesheet also named KK Aravindakshan, the then general manager, head-office, Punjab National Bank, and BK Jayaprakasam, then assistant general manager and then branch manager. The chargesheet was filed in the court of the principal special judge for CBI cases.

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