Ex-bank AGM booked by CBI for graft
TNN | Mar 3, 2019, 12:23 IST
HYDERABAD: The Central Bureau of Investigation (CBI) registered a criminal case against a dismissed Vijaya Bank assistant general manager (AGM), West Maredpally branch, for allegedly committing a fraud in connivance with owners of a private company while disbursing a loan and causing a loss of Rs 9.16 crore.
In an FIR, CBI said that the Vijaya Bank AGM, C Mallikarjuna Rao, while working in West Maredpally branch between 2015 and 2017, conspired with two partners of RCL Technologies Private Limited and gave a loan for the purchase of machinery. The duo had allegedly submitted fake and fabricated documents, on the basis of which Mallikarjuna Rao sanctioned the loan. Rao was dismissed from service in August 2018.
CBI also registered another case against a former chief manager and assistant branch head of UCO Bank, SD Road branch, for allegedly causing a loss of Rs 5.49 crore after giving loan to a private company. The duo conspired with Kommineni Enterprises and cheated the bank of Rs 9 crore. However, the bank recovered Rs 3.93 crore from the company.
In an FIR, CBI said that the Vijaya Bank AGM, C Mallikarjuna Rao, while working in West Maredpally branch between 2015 and 2017, conspired with two partners of RCL Technologies Private Limited and gave a loan for the purchase of machinery. The duo had allegedly submitted fake and fabricated documents, on the basis of which Mallikarjuna Rao sanctioned the loan. Rao was dismissed from service in August 2018.
CBI also registered another case against a former chief manager and assistant branch head of UCO Bank, SD Road branch, for allegedly causing a loss of Rs 5.49 crore after giving loan to a private company. The duo conspired with Kommineni Enterprises and cheated the bank of Rs 9 crore. However, the bank recovered Rs 3.93 crore from the company.
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