CBI registers a case against former TDP minister

CBI has filed a case against former TDP Minister Kothapalli Subbarayudu of Andhra Pradesh for allegedly cheating State Bank of India for Rs 5.73 crore.
CBI sources said a case has been registered against him for allegedly availing loan facilities for 23 fish banks on the basis of fake documents.
"The Central Bureau of Investigation has registered a case against the then Chief Manager and three then Field Officers, all of State Bank of India, Narsapur Branch; Ex-MP/Ex-Minister, a resident of Narsapur, West Godavari district, and some other persons for causing an alleged loss of Rs.5.73 crores (approx) to Bank," CBI spokesperson said here today.

Besides Subbarayudu, the then Chief Manager SBI T G K Murthy, the then field officers K Kiran Kumar, Rama Sathyam, and Prasanth Kumar have also been named in the FIR along with some more persons.
CBI spokesperson said it was alleged that during the period from 2011 to 2013, Subbarayudu had connived with the bank officials for availing 22 fish tank Loans under KCC (Kissan Credit Card) for pisciculture in his name and in the names of his wife, relative and his close associates.
It is alleged that documents submitted were fake and fabricated annual agriculture income Certificates (purportedly issued by the revenue authorities); fake/forged lease agreement documents and routed the entire sanctioned amount to his savings bank account maintained with State Bank of India, Narsapur Branch, the spokesperson said.

"Searches were carried out at the residential premises of accused persons at Hyderabad, Amalapuram, Bhimavaram and Narsapur, which led to recovery of certain documents," the spokesperson said.