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Hyderabad CBI court convicts twelve implicated in 2004 housing car loans scams situation

WorldHyderabad CBI court convicts twelve implicated in 2004 housing car loans scams situation
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Hyderabad CBI court convicts twelve charged in 2004 housing loans fraudulence case

< img src="https://akm-img-a-in.tosshub.com/indiatoday/images/story/202203/arrested_0-647x363.jpeg?DkLNZRbMCJpNXACadWnToLEbC3YPPVUC" course="ff-og-image-inserted" > A special court for CBI instances, Hyderabad, has sentenced 12 implicated to extensive jail time (RI) varying up to five years and a mixed penalty of Rs 11 lakh in a financial institution fraudulence case.Those punished

to strenuous imprisonment consist of K Raja Rao, the then Branch Supervisor, Reserve Bank of India, Secunderabad. He will certainly need to undergo 5 years of jail time and pay a penalty of Rs 2.25 lakh.Another person, Sridhar, was sentenced to 3 years of RI with a fine of Rs 75,000. A woman convict, K Rani, will certainly go through three years of RI with a penalty of Rs 75,000. Also Check out:|J&K: Missing soldier’s body located in Budgam district

The Court additionally announced three years of RI with fines for other accused.The CBI had registered a case on September 30, 2004, versus former financial institution supervisor K Raja Rao as well as others on the accusations that he conspired with others as well as fraudulently sanctioned the disbursement of housing loans.Around February-April in the year 2002, car loans worth Rs 98,43,706(approx) were disbursed without confirmation of the credibility and eligibility of the borrowers.ALSO READ|Phone tapping situation: IPS police officer Rashmi Shukla moves Bombay High Court against Colaba FIR After investigation, the CBI filed three cost sheets on July 25, 2006, against the accused.The high court located the charged guilty as well as necessary convicted them.Published at Fri, 11 Mar 2022 12:44:24 -0500

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