The Central Bureau Of Investigation (CBI), Visakhapatnam, filed charge sheet against C. C. Harish, the then Assistant General Manager and Relationship Manager, IDBI Bank Limited, Guntur, and 106 borrowers and accused pertaining to three cases, here on Friday.
‘Conspiracy with 106 borrowers’
As per a Central Bureau Of Investigation press release, the then Assistant General Manager, in conspiracy with 106 borrowers allegedly sanctioned and disbursed an amount of ₹23.29 crore for the purpose of pisciculture.
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However, investigation revealed that there were no fish ponds, there were no land on which the fish ponds were supposed to be existing and there were no lessors for lending lands on lease to the borrowers/accused.
Wrongful loss
According to the charge sheet filed by the agency, Harish and the other accused allegedly caused wrongful loss to the tune of ₹47.39 crore to the exchequer and a corresponding wrongful gain to themselves.
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The charge sheet was filed on Friday before the Principal Special Judge for CBI cases, Visakhapatnam, for the offences punishable under Sections 120-B r/w 420, 467, 468, 471 of IPC and Sec. 13(2) r/w 13(1)(d) of PC Act, 1988.
Accused in court
The main accused persons behind the scam Harish, Mada Srinivasa Rao, Ganduri Mallikarjuna Rao and Mada Subramanyam of Guntur were arrested and produced before the court on Friday.