11 convicted in 4 cr bank fraud

Visakhapatnam: Special judge for CBI cases in Vizag, BSV Hima Bindu, convicted an officer of IDBI Bank Ltd and 10 private persons in a bank fraud case. The court also slapped a fine of 4.9 lakh on them. Surendranath Datti, the then asst. general manager-cum-centre head and Dwibhashyam Karthik, the then asst. manager, IDBI Bank Ltd., Vizag Retail Asset Centre, sanctioned and disbursed loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL reports, and violating the laid down procedures and norms of IDBI Bank. Thus, accused persons caused a total loss to the tune of over 4.3 crore to the bank. TNN