Hyderabad: The sleuths of Central Bureau of Investigation have booked the then Assistant General Manager of Syndicate Bank- Nizamabad and two other managers in a fraud case.
The CBI was acting on specific inputs in regard to a loan case. Investigation found that a civil contractor availed Rs. 500 Lakh as working capital & Rs 500 Lakh as bank guarantee during the period 2016-17 .
However some of the assets mortgaged to the bank by the contractor proved to be non-existent and in respect of some other assets the valuation reports submitted by valueers appeared to be inflated. Thus, the bank suffered a loss of Rs. 1229.58 lakh (approx).
CBI officials carried out searches at Musheerabad, Hyderabad, Secunderabad, Kodada, Kukatpally which led to recovery of some incriminating documents. The sleuths found the involvement of the AGM and other in the aiding the fraud.
The Investigating agency booked Renuka. B, the then AGM, Srinivasa Rao Malladi, the then Chief Manager, Shruthi Gupta, the then Manager, Syndicate Bank, Chanda Nagar under Prevention of Corruption Act.
Five private persons have been booked including Korrapati Subbaiah, Konda Sugreeva, Ganta Nageshwar Rao, Approved Valuer, Ramakrishna Rentachintala and S. Subramanyam.