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CBI booked YSRCP leader for cheating SBI
By: Tupaki Desk | 6 March 2015 3:42 AM GMT
Another YSRCP leader booked in cheating case. As per reports former parliamentarian and YSR Congress Party leader Kothapalli Subbarayudu booked by CBI for allegedly cheating State Bank of India(SBI) to the tune of Rs.5.73 crore.
As per CBI Subbarayudu availed 22 fish tank loans between 2011 and 2013 by submitting fake documents. Apart from the former MP, The Central Bureau of Investigation has registered a case against some of the SBI officials. CBI registers cases on the then Chief Manager and three then Field Officers, all of State Bank of India, Narsapur Branch.
CBI in its investigation found that the bank officials violated the laid down norms and guidelines of the SBI under KCC (Kissan Credit Card) for Pisciculture and sanctioned and disbursed the loan amount without verifying the genuineness of the submitted documents.CBI booked cases on the former minister and the officials carried out raids at the residential premises of accused persons at Hyderabad, Amalapuram, Bhimavaram and Narsapur.
It may be recalled that few months back the Kadapa police had registered cheating, forgery cases against Jagan uncle Ravindranath Reddy, Kamalapurm MLA . He was facing allegations that he indulged in forgery during cooperative elections. Ravindranath Reddy went underground for the last 15 days.
Subbaryudu had served as a minister in the TDP government in undivided Andhra Pradesh in the 1990s. He had unsuccessfully contested last year's elections from Narsapur as a YSR Congress candidate.
As per CBI Subbarayudu availed 22 fish tank loans between 2011 and 2013 by submitting fake documents. Apart from the former MP, The Central Bureau of Investigation has registered a case against some of the SBI officials. CBI registers cases on the then Chief Manager and three then Field Officers, all of State Bank of India, Narsapur Branch.
CBI in its investigation found that the bank officials violated the laid down norms and guidelines of the SBI under KCC (Kissan Credit Card) for Pisciculture and sanctioned and disbursed the loan amount without verifying the genuineness of the submitted documents.CBI booked cases on the former minister and the officials carried out raids at the residential premises of accused persons at Hyderabad, Amalapuram, Bhimavaram and Narsapur.
It may be recalled that few months back the Kadapa police had registered cheating, forgery cases against Jagan uncle Ravindranath Reddy, Kamalapurm MLA . He was facing allegations that he indulged in forgery during cooperative elections. Ravindranath Reddy went underground for the last 15 days.
Subbaryudu had served as a minister in the TDP government in undivided Andhra Pradesh in the 1990s. He had unsuccessfully contested last year's elections from Narsapur as a YSR Congress candidate.
