Nation Crime 24 Nov 2022 10 accused in bank f ...

10 accused in bank fraud sentenced to RI

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Nov 24, 2022, 12:29 pm IST
Updated Nov 24, 2022, 12:29 pm IST
Five accused persons were sentenced to seven years in RI, while another person was sentenced to one year in RI. (Representational DC image)
 Five accused persons were sentenced to seven years in RI, while another person was sentenced to one year in RI. (Representational DC image)

Hyderabad: The Special Judge for CBI Cases, Hyderabad has sentenced 10 persons, including two former Bank of Maharashtra employees, to various periods of rigorous imprisonment and imposed a fine on them in connection with a bank fraud case in 2013.

Five accused persons were sentenced to seven years in RI, while another person was sentenced to one year in RI. The court also fined six private companies for causing the Bank of Maharashtra a loss of Rs 4.57 crore. The central investigating agency filed a case in 2013 against Sarath Babu Jelly, former senior manager, and Suhas Kalyan Ramdasi, former assistant general manager, both of the Bank of Maharashtra, Secunderabad branch, on allegations that the accused conspired with private companies by sanctioning Rs 5 crore working capital limits between 2012 and 2013. They then diverted the funds resulting in a loss of Rs 4.57 crore to the bank. Sarath Babu Jelly and Suhas Kalyan Ramdasi were sentenced to seven years RI and fined Rs.1.10 lakh each.

The charge sheet was filed in August 2014. During the trial, the court found them guilty of the crime and convicted them.

The other accused Donikena Sridhar, Donikena Purna Sri, and Marella Srinivas Reddy, all private individuals, were sentenced to seven years RI with a fine of Rs 1 lakh each. Vempati Srinivas was sentenced to three years RI with a fine of Rs.10,000, while Marella Laxma Reddy was sentenced to one year in prison with a fine of Rs 20,000. Vette Raja Reddy, Bathula Satya Suraj Reddy, and Vadde Narasaiah were also sentenced to three years Rigorous Imprisonment and a Rs.20,000 fine each. The CBI court also fined M/s Maven Life Sciences Pvt Ltd, M/s Graupel Pharma Pvt Ltd, and M/s Conferro Health Carte Pvt Ltd Rs. One Lakh each, and M/s Hyderabad Tablet Tools, M/s Kiran Impex Pvt Ltd, and M/s Sri Vaishnavi Pharma Chem Rs.50,000 each.

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Location: India, Telangana, Hyderabad




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