Hyderabad: The Crime Investigation Department (CID) in Telangana arrested a senior bank official on Wednesday for causing a loss of Rs.27 crore to the bank.
The accused, Kondu Sanjay, a 53-year-old Assistant General Manager, was working as the Relationship Manager for Medium Enterprises at the Balanagar branch of a public sector bank from June 2009 to June 2011. He sanctioned a cash credit loan of Rs.27 crore to M/s Adarsh Communications Pvt. Ltd. based on allegedly forged documents.
After receiving the loan, the company’s Managing Director, M. Anjaneyulu, and his wife, Manikonda Reeta, who is the company’s director, absconded in 2013. They were arrested in May last year in Bangalore.
While working at the Balanagar branch, Sanjay, along with the bank’s Customer Support Officer G. Ravindranath, knowingly accepted forged documents. They misrepresented agricultural land as non-agricultural and allowed non-approved layout plots, violating bank rules. This dishonest act led to the loan being sanctioned to Anjaneyulu and Reeta.
