Hyderabad: Top bank official sentenced in 19-year-old cheating case

By Author  |  Published: 2nd Dec 2019  8:36 pmUpdated: 2nd Dec 2019  8:38 pm

Hyderabad: A special court for CBI cases here has sentenced Andhra Bank’s former Masab Tank branch Chief Manager W Ramakrishna Paramahansa and two other persons to three years of Rigorous Imprisonment (RI) in connection with a cheating case registered in 2000.

Apart from Ramakrishna, Mathur Mass Communication Limited managing director VR Mathur and another person Sandeep Raj are to undergo three years of RI.

The CBI had registered a case in August, 2000 against Ramakrishna and others following allegations that they conspired to sanction various loans irregularly to private persons and cheated the bank to the tune of Rs.1.45 crore. After investigation, CBI filed a charge-sheet in May, 2003 against the trio.

In another case, the CBI court in Visakhapatnam sentenced the then Vijayawada Benz Circle Vijaya Bank branch manager M.B. Rajani Kanth and assistant manager Y Ramachandra Rao along with seven borrowers to two years RI for cheating the bank to the tune of Rs.43,21,740.

The seven include – Donne Kankaratnam, Manda Krupadanam, Gundimeda Seethamma, Sh. Garlapati Murli Krishna, Bavarji Savithri, Ojji Lakshmi Kumari and Nimmagadda Prabhakar Rao.

The two bank officials conspired with seven borrowers, who were partners of a construction company and the bank’s panel valuer, to sanction seven housing loans by submitting fake documents pertaining to their income. After investigation, the CBI filed a charge-sheet against the accused in the court. The trial court found them guilty and convicted.


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