Trichy: Two bank managers among 10 booked in Rs 2.6 crore loan scam

TRICHY:

City crime branch

(CCB) in Trichy have registered a case against

ten

people including two managers of Andhra Bank, and arrested two accused for taking loans worth Rs 2.63 crore from the bank with the connivance of the bank officials by producing forged documents.


A case was filed against A Paulraj, 57, his son Eric Vidyadharan, wife Margeret Premasheela, their friends C Sundravadhanam, his wife S Durga, R Jeya, S Prakash, 28, K Sundararajan, former branch manager of Andhra bank in Woraiyur Krishnaprasath and panel legal adviser of the bank S Vijaya. They were booked on charges of cheating and forging documents for cheating and forgery. CCB inspector T Periaiah arrested Paulraj and Prakash while the others were yet to be arrested.

Those named in the case availed of six loans worth Rs 2.63 crore from July 2015 to March 2016 for business development and construction of buildings, on various dates from Andhra Bank in Trichy. Former manager Krishnaprasad and legal adviser were hand in glove with the eight people for clearing the files to sanction the loan, against the rules of the bank. Going by the complaint filed by the bank’s incumbent manager Gopinath, irregularities were found in the transaction following verification of files. On finding that they had submitted forged documents, he moved the debts recovery tribunal to recover the loans. The tribunal ordered the accused to pay Rs 1.16 crore as a one-time settlement (OTS). They accepted the order and paid Rs 1 crore to the bank and submitted a cheque for Rs 16 lakhs.

However, since the cheque bounced, the manager lodged a complaint with city police commissioner A Amalraj who ordered investigation by CCB. The two arrested were produced before court and remanded in judicial custody.