more-inThe Additional Special Judge for CBI cases G Satya Prabhakara Rao sentenced Kalva Dinesh, Partner, Sursti Sarees and Kids Wear, Vijayawada and Kalva Divakar Babu, father of Dinesh and a partner in the firm, to three years rigorous imprisonment(RI) and slapped a fine of ₹6,000. According to the CBI, D. Babu, the main accused, Branch Manager, Central Bank of India, Governorpet Branch, Vijayawada and P.V. Sashi Kumar (A2), the then Manager (Credit) of the same bank entered into a criminal conspiracy with K. Dinesh (A3) and Sri Kalva Divakar Babu (A4), Partners of Srusti Sarees and Kids Wear, Vijayawada, to cheat Central Bank of India, Governorpet Branch, in the sanction and disbursement of cash credit facility. Wrongful lossThe bankers thereby caused wrongful loss of ₹52,01,878 to the Central Bank of India. Bankers acquittedHowever, the bankers and others involved were acquitted from the charges levelled against them.

Source: The Hindu November 30, 2017 17:26 UTC