Hyderabad: 2 SBI officials in CBI’s net for Rs 5.6Cr bank fraud

Hyderabad: Two SBI officials and others have been arrested by the CBI for causing a Rs 5.36 crore loss to the Bank.

According to sources, 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, TOI reports.

The CBI received a complaint on May 6, 2019 from SBI regional manager Usha Shankar, Himayathnagar region, administrative office, Secunderabad where the complainant alleged Pasha, during his tenure as an RMME between July 25, 2017, and December 5, 2018, colluded with Lakshminarayana and Prasad and caused the bank a fraud to the tune of Rs 5.36 crore.

The accused Pasha was back then 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,” said a CBI official.

The other partners in crime, Lakshminarayana along with Prasad have back then established a parternship firm, NAR Traders and Enterprises on April 3, 2014, without taking administrative clearance from appropriate bank authority.

They further went on and applied for a loan proposal for Rs 5.05 crore in July 2017 to carry on the business of trading in agri products by furnishing the fabricated gift deed as collateral security to the bank and soon 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.

As a part of the conspiracy plan, the accused intentionally allowed Lakshminarayana to furnish fabricated documents 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.

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