Nation Crime 02 Oct 2019 Hyderabad: CBI nets ...

Hyderabad: CBI nets 2 SBI staff for Rs 5.36 crore fraud

DECCAN CHRONICLE. | COREENA SUARES
Published Oct 2, 2019, 2:19 am IST
Updated Oct 2, 2019, 2:19 am IST
Taking advantage of his post, Rawoof conspired with Lakshminarayan and submitted fabricated deeds as collateral security for SME advance.
State Bank of India
 State Bank of India

HYDERABAD: The Central Bureau of Investigation has booked two officials of the State Bank of India in the city for being the “key conspirators” in defrauding their organisation to the tune of Rs 5.36 crore. In addition, three private persons have also been charged for the same fraud.

The CBI unearthed the case after it received a complaint from the Regional Manager of SBI’s Administrative Office in Himayatnagar, alleging that Abdul Rawoof Pasha, the then Regional Manager (MMGS-III) of Paris-hrama Bhavan branch, during his tenure between 2017- 18, conspired with another banker T. Laksh-minarayan and Kota-konda Krishna Prasad, promoter of NAR Traders and Enterprise, in defrauding the bank of Rs 5.36 crore. Abdul Rawoof Pasha, now under suspension, was holding the responsibility for marketing, processing, documentation, disbursement, supervision and recovery of SME advances. Taking advantage of his post, Rawoof conspired with Lakshminarayan and submitted fabricated deeds as collateral security for SME advance.

 

The complaint alleged that Lakshminarayan, along with Krishna Prasad, established a partnership firm in the name of NAR Traders and Enterprises in 2014. The firm submitted a loan proposal for Rs 5.05 crore during July 2017 to carry the business of trading. Without taking administrative clearance from appropriate authority of the bank, Abdul Rawoof, the then Regional Manager, in collusion with Lakshminarayan, intentionally allowed the withdrawal of the loan amount.

...
Location: India, Telangana, Hyderabad




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT