New Delhi, Feb 15 (IANS): A special CBI court in Visakhapatnam awarded various jail terms to nine accused including the then AGM, Assistant Manager of IDBI Bank, five private persons and two private firms in connection with a loan fraud case.
The court sentenced Surendranath Datti and Dwibhashyam Karthik both then Assistant General Manager-cum-Centre Head, IDBI Bank Ltd to undergo two years rigorous imprisonment.
The court also slapped a fine of Rs 60,000 on Datti and Rs 30,000 on Karthik.
The CBI had registered a case on the allegations that Datti and Karthik in connivance with the borrowers, Panel Valuers and others had sanctioned and disbursed the loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL reports, violating the laid down procedures and norms of IDBI bank.
By this the accused caused a total loss of Rs 99.21 lakh to IDBI Bank Limited.