HYDERABAD: The Central Bureau of Investigation (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 `42 crore.
The CBI has alleged that the MP in collusion with P Ramakoteswara Rao, the then managing director of the Hyderabad-based Visweswara Infrastructure Pvt Ltd, misrepresented facts to the Punjab National Bank and secured a short-term loan of `25 crore.
“The accused diverted the loan amount for purposes other than for what it was sanctioned and allegedly cheated the Punjab National Bank, resulting in a loss of `42.79 crore to the bank,” said a CBI press release.
The Araku MP has denied the allegations. Admitting that the loan was secured and that they had problems in repayment, Geetha, however, said 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 CBI filed the chargesheet in the court of Principal Special Judge for CBI cases in Hyderabad under Section 120-B (criminal conspiracy) read with 420 (cheating), 468 (forgery) and 471 of the IPC and under Section13(2) r/w 13(1)(d) of the PC Act, 1988.
A private person named S Rajkumar, who allegedly helped in forging the documents, and Visweswara Infrastructure Pvt Ltd have also been named in the chargesheet.