New Delhi, Jan 2 A special CBI court in Visakhapatnam has awarded different jail terms to 10 persons, including two officials of IDBI Bank, in connection with a bank loan fraud case worth Rs 201.17 lakh.
The court awarded two-year rigorous imprisonment to Surendranath Datti, then Assistant General Manager at IDBI Bank, Visakhapatnam, along with a fine of Rs 1 lakh, and Dwibhashyam Karthik, then Assistant Manager at IDBI Bank, along with fine of Rs 30,000.
Apart from them, eight private persons were awarded one-year rigorous imprisonment each by the court.
The CBI said that Datti and Karthik, in connivance with the borrowers, direct sales associates, panel valuers and engineers, had 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 caused a total loss to the tune of Rs 201.17 lakh to IDBI Bank.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor