Hyderabad: 2 SBI officials booked for Rs 5.36 crore fraud

HYDERABAD: The Central Bureau of Investigation (CBI) booked two State Bank of India (SBI) officials and others for causing a Rs 5.36-crore loss to the bank.The accused are Abdul Rawoof Pasha, then relationship manager of medium enterprises (RMME) at SBI’s Parishram Bhavan branch, Hyderabad, NAR Traders and Enterprises Private Ltd, Jaihind Enclave, Madhapur, T Lakshminarayana, messenger at SBI’s Yellareddyguda branch-cum-partner of NAR Traders and K Krishna Prasad, partner of NAR Traders.On May 6, 2019, CBI received a complaint from Usha Shankar, regional manager, SBI, Himayathnagar region, administrative office, Secunderabad. In her complaint, Usha alleged that Pasha, during his tenure as an RMME between July 25, 2017, and December 5, 2018, colluded with Lakshminarayana and Prasad and defrauded the bank to the tune of Rs 5.36 crore.According to CBI, Pasha, who is currently under suspension, was responsible for marketing, processing, documentation, disbursement, followup, supervision of SME advances as RMME of Parishram Bhavan branch. “In collusion with Lakshminarayana, Pasha accepted a fabricated gift deed as collateral security for SME advance issued to NAR Traders,” a CBI official said.Lakshminarayana along with Prasad established a parternship firm, NAR Traders and Enterprises on April 3, 2014, without taking administrative clearance from appropriate bank authority. As part of the conspiracy, NAR Traders’ representatives submitted a loan proposal for Rs 5.05 crore in July 2017 to carry on business of trading in agri products by furnishing the fabricated gift deed as collateral security to the bank and received a sanction of the amount as cash credit limit on August 23, 2017. “As incharge of pre-sanction credit process, Pasha inspected the house of Lakshminarayana and failed to refer the gift deed to deputy manager (law) of SBI posted at Secunderabad administrative office and obtain title investigation report from the panel advocate to ensure genuineness of the gift deed,” the complainant alleged.Rawoof intentionally allowed Lakshminarayana to furnish fabricated invoices and stock statements to divert the amount from cash credit account to personal use. As a result, the account slipped into non-performing asset (NPA) category on November 22, 2018, the CBI official said.