New Delhi, Feb 9 A former Assistant General Manager of the IDBI Bank in Visakhapatnam was jailed by a Special CBI court in connection with a bribe case, an official said on Thursday.
The court handed Surendranath Datti, then Assistant General Manager-cum-Centre Head, IDBI Bank, Visakhapatnam two years' rigorous imprisonment, and also imposed a fine of Rs 20,000.
The CBI registered the case against the accused on the allegations that Datti, in connivance with the borrowers, direct sales associates, panel valuers and engineers, had sanctioned and disbursed the loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL reports, violating the laid down procedures and norms of the Bank and failing to ensure property security.
The accused caused a loss to the tune of Rs 93.28 lakh to the IDBI Bank.
Following an investigation, a chargesheet was filed against Datti and the other accused.
The court found the accused guilty and eventually convicted him.
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