Hyderabad , April 30: The Hon’ble Judge for CBI cases, Hyderabad has convicted and sentenced Shri V. P. Padmanabh, the then Branch Manager, Vijaya Bank, Nampally, Hyderabad to three years’ Rigorous Imprisonment with a fine of Rs. 65,000/- in a Bank Fraud case.
CBI had registered the instant case on 20.04.2006 against the accused Shri V. P. Padmanabh, the then Branch Manager, Vijaya Bank, Nampally and others on the allegations that the accused Shri V. P. Padmanabh while functioning as Manager, Vijaya Bank, PG Road Nampally, Hyderabad abused his official position as public servant and in conspiracy with the private persons sanctioned and disbursed 05 (five) housing loans totaling to Rs. 39.75 lakh without verifying the genuineness of the sale agreement, sale deeds, guarantors and income proofs submitted by the borrowers.
Subsequently, the accused withdrew and misappropriated the loan proceeds, thereby obtaining wrongful benefit and causing corresponding wrongful loss to the tune of Rs. 39.75 lakh to the Bank. Chargesheet was filed against the accused including Shri V. P. Padmanabh on 28.12.2006.
It was revealed during the investigation that accused in conspiracy with private persons sanctioned and disbursed said 05 (five) housing loans without verifying the genuineness of various documents which resulted into wrongful loss to the Bank and corresponding wrongful gain to the accused.
After trial, the Court held the accused guilty and sentenced him accordingly. CBI cited 165 documents/ evidences which stood the test of trial resulting in conviction of the accused.
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