The accused in connivance with the borrowers, Direct Sales Associates, Panel Valuers and Engineers had sanctioned and disbursed the loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL Reports, violating the laid down procedures and norms of IDBI Bank and failing to ensure property security : CBI

New Delhi, February 18

The Special Judge for CBI cases Visakhapatnam sentenced the then Assistant General Manager-cum-Centre Head, IDBI Bank Ltd. For two years of Rigorous Punishment. 

The accused was identified as Surendranath Datti, AGM of IDBI Bank, Vizag Retail Asset Centre, Siripuram Junction, Visakhapatnam. 

The CBI had registered a case against the accused on the allegations that the accused in connivance with the borrowers, Direct Sales Associates, Panel Valuers and Engineers had sanctioned and disbursed the loans to ineligible borrowers by accepting fake income tax returns, ignoring adverse CIBIL Reports, violating the laid down procedures and norms of IDBI Bank and failing to ensure property security.  

The accused caused a loss to the tune of Rs. 93.28 lakh to the IDBI Bank Limited, officials added.