A-1 further created multiple mortgages in various banks over the same flat which was offered as collateral security to SBI.
Hyderabad: The special judge for CBI Cases, Hyderabad, has convicted Chakkilam Raghuram- MD of Chakkilam Trade House Ltd and officials of SBI up to five years of rigorous imprisonment in a financial fraud case registered in 2009.
Based on the complaint lodged by GM, SBI, Hyderabad against Chakkilam Raghuram (A-1), on the allegations that A-1 in conspiracy with other accused has submitted false and fabricated financial statements to the bank and availed higher cash/credit facilities from SBI. A-1 further created multiple mortgages in various banks over the same flat which was offered as collateral security to SBI.
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