(THE NEWSMAN OF INDIA.COM)
New Delhi, 02.12.2019; The Additional Special Judge for CBI Cases, Hyderabad has sentenced W. Ramakrishna Paramahansa, then Chief Manager, Andhra Bank, Masab Tank Branch, Hyderabad to undergo three years Rigorous Imprisonment with a fine of Rs. 1.25 lakh;V.R. Mathur, then Managing Director of M/s V.R. Mathur Mass Communication Limited, Khairatabad, Hyderabad to undergo three years Rigorous Imprisonment with a fine of Rs. one lakh and Sh. Sandeep Raj (Private Person) to undergo three years Rigorous Imprisonment with a fine of Rs. 50,000/- in a cheating case. The Court has also imposed a fine of Rs. one lakh each on M/s V.R. Mathur Mass Communication Limited, Khairatabad, Hyderabad and M/s Vision Corporation, Khairatabad, Hyderabad.

CBI had registered a case on 31.08.2000 against W. Rama Krishna Paramahansa, Chief Manager, Andhra Bank and others on the allegations that the accused in conspiracy with others sanctioned various loans irregularly to private persons and cheated the bank to the tune of to Rs. 1,45,78,772/-.

After investigation, CBI filed charge sheet on 30.05.2003 against the accused U/s 120-B, 420, 468 r/w 478 of IPC and Sec 13(2) r/w 13(1)(d) of PC Act 1988.

In another case, the Additional Special Judge for CBI cases, Visakhapatnam has sentenced Sh. M.B. Rajani Kanth, then Branch Manager, Vijaya Bank to undergo two years Rigorous Imprisonment with a fine of Rs. 20,000/-; Y. Ramachandra Rao, then Assistant Manager, Vijaya Bank, Benz Circle Branch, Vijaywada to undergo two years Rigorous Imprisonment with a fine of Rs. 20,000/- and seven borrowers i.e. Smt. Donne Kankaratnam; Smt. Manda Krupadanam; Smt. Gundimeda Seethamma; Garlapati Murli Krishna; Smt. Bavarji Savithri; Smt. Ojji Lakshmi Kumari; Nimmagadda Prabhakar Rao, all (private persons) to undergo two years Rigorous Imprisonment with a fine of Rs. 4,000/- each.

CBI had registered the case on the allegations that during the year 2005,M.B. Rajani Kanth, Branch Manager and Y. Ramachandra Rao, Assistant Manager, Vijaya Bank, Benz Circle Branch, Vijaywada entered into a criminal conspiracy with seven borrowers, Partners of a Construction Company and Panel Valuer of the Bank to cheat the bank in the sanction of seven housing loans. In pursuance of the said criminal conspiracy, borrowers submitted fake and forged documents pertaining to their income. Partners of the Construction Company and Panel Valuer submitted inflated sale agreement/construction agreement/ valuation report regarding value of the properties. In furtherance of the said criminal conspiracy,Y. Ramachandra Rao, Assistant Manager processed the loan proposals for sanction and M.B. Rajani Kanth, Branch Manager sanctioned the housing loans amounting to Rs. 46,60,000/- in favour of the seven borrowers on the strength of fake and forged documents. Thus, the bank was cheated to the tune of Rs. 43,21,740/-. After investigation, a charge sheet was filed against the accused in the Designated Court. Both Public Servants were removed from service.

The Trial Court found the accused guilty and convicted them.