CBI chargesheets YSRC MP Kotapalli Geetha
The accused colluded with the private person in creating false documents over a property under litigation
By : DC Correspondent
Update: 2015-07-01 02:01 GMT
Visakhapatnam: The CBI on Tuesday filed a chargesheet in the court of the principal special judge for CBI cases, Hyderabad, against YSRC Araku MP Kotapalli Geetha and managing director of a Hyderabad-based private company for causing a loss of Rs 42.79 crore to the Punjab National Bank.
The then assistant general manager and branch manager of PNB’s mid corporate branch at Hyderabad, and the then general manager of the bank’s head office at New Delhi were also booked for entering into a criminal conspiracy to cheat the bank in the matter of sanction and availing of a short-term loan of Rs 25 crore.
According to the CBI, the then managing director and another person, “who is now an MP”, had allegedly misrepresented facts to the bank and got the loan sanctioned and disbursed in collusion with the bank officers.
The accused colluded with the private person in creating false documents over a property under litigation. They diverted the loan amount for purposes other than it was sanctioned for and allegedly cheated the PNB, resulting in a loss of approximately Rs 42.79 crore, the CBI said.