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Telangana: One more IDBI Bank official arrested in loan fraud case

Hyderabad, May 24 (UNI) The CID has arrested one more IDBI official, presently working in Mumbai, in connection with the IDBI Bank loan fraud case of Sattupaly branch in Khammam District.
The CID had earlier arrested five accused in this case, a release said here on Saturday.
In continuation of the investigation in the bank fraud case, one more accused Bukya Suresh (37), who is presently working as IDBI Bank Manager, Mumbai CBD Belapur office (Previously worked as Assets Officer (SOM), IDBI Bank, Sathupally branch), resident of Bellampally of Manchirial District, was arrested and produced before the Magistrate for judicial remand on Saturday.
Shika Goel, Director General, Crime Investigation Department (CID) in a release said, This is a case of Criminal breach of Trust, Cheating, Forgery and Criminal Conspiracy committed by the Ex-Manager of Industrial Development Bank of India (IDBI) Sattupalli branch Khammam district, in connivance with a Bank agent -- Business Correspondent, DSTs, their associates and Borrowers by submitting Forged Revenue Documents.
The accused dishonestly cheated the IDBI Bank authorities to sanction loans of around Rs.2.86 Crores by violating the bank rules and regulations.
The facts of the case are that PH Hashim, Deputy General Manager IDBI Bank Limited, Regional Head (II) lodged a complaint that Nallagopula Ramesh, Ex-Branch Head of Sattupalli IDBI colluded with Business Correspondent Chettipogu Suresh and his associates Thati Chandra Rao, Merugu Shiva Krishna, and sanctioned Rs.2.61 Crores Loans to 279 borrowers/farmers under Kisan Credit Card Scheme and also sanctioned Rs. 0.25 Crores to 26 individuals under Micro Loans Scheme in between March 13, 2015 to September 2016.
During the internal audit conducted for FY 2018-19 in respect of KCC Loans, the auditor has found certain procedural lapses and financial transactions between Chettipogu Suresh and the then Branch Head N Ramesh.
In view of various lapses noticed, the Bank approached the revenue authorities and they confirmed that the pattadar pass books submitted to the Bank are fake and not matching with their records.
The Ex-Branch head N Ramesh, Business Correspondent Chettipogu Suresh and his two associates Thati Chandra Rao and Merugu Shiva Krishna colluded with the loan borrowers and cheated the Bank by submitting forged documents and misappropriated public funds.
Earlier, the accused Ramesh Kumar, IDBI Bank manager and Chettipogu Suresh, Ex-Business Correspondent IDBI Bank Sattupalli, resident of Badradi Kothagudem District and five other accused were arrested and produced before the Magistrate for judicial remand.
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