For causing an alleged loss of Rs.5.73 crores (approx) to Bank
New Delhi, March 5, 2015: The Central Bureau of Investigation has registered a case against then Chief Manager & three then Field Officers, all of State Bank of India, Narsapur Branch; Ex-MP/Ex-Minister, resident of Narsapur, West Godavari District and some other private persons for causing an alleged loss of Rs.5.73 crores(approx) to Bank.
It was alleged that during the period from 2011 to 2013, the Ex-MP/Ex-Minister resident of Narsapur, West Godavari District had connived with then Chief Manager, & three then Field Officers, all of State Bank of India, Narsapur Branch and availed 22 Fish Tank Loans under KCC (Kissan Credit Card) for Pisciculture in his name & in the names of his wife, relative & his close associates by submitting fake & fabricated Annual Agriculture Income Certificates (purportedly issued by the Revenue Authorities); fake/forged lease agreement documents and routed the entire sanctioned amount to his Savings Bank Account maintained with State Bank of India, Narsapur Branch. He allegedly misused the same for his personal use and not for which it was sanctioned. An alleged loss to the tune of Rs. 5.73 crores (apoprox) was caused to the bank.The bank officials had violated the laid down norms & guidelines of State Bank of India under KCC (Kissan Credit Card) for Pisciculture and sanctioned & disbursed the loan amount to the said borrower without verifying the genuineness of the documents. The pre-sanction/post-sanction inspection was also not conducted.
Searches were carried out at the residential premises of accused persons at Hyderabad, Amalapuram, Bhimavaram and Narsapur which led to recovery of certain incriminating documents.
Investigation is continuing in the matter. / (SK Vyas, Jalandhar)
Date:
Thursday, March 5, 2015