The Central Bureau of Investigation (CBI) registered a fraud case against Antoney Maria Lembert, the then Chief Manager of Indian Bank, Narasaraopet branch, here on Monday.
According to a press release from CBI, Visakhapatnam branch, Antoney entered into a criminal conspiracy with a number of companies to sanction secured overdraft and mortgage loans to the tune of Rs. 11.93 lakh during 2012-13 on the basis of fake letters issued by BVSR Construction, Hyderabad, wherein it was stated that the companies were permitted to participate in toll plaza bids of NHAI.
The overdrafts and mortgage loans were sanctioned on inflated valuation reports in respect of the properties shown as collateral security. An internal investigation of the bank revealed that NHAI, New Delhi, had nothing to do with the BVSR Construction or the firms to which the overdrafts and mortgage loans were sanctioned. Owing to this, the bank has suffered a loss of Rs. 10.49 lakh.
The case was handed over to CBI and investigation is on.