The Additional Judge for CBI cases, Hyderabad has sentenced Sh. D. Narasimha Reddy, then Branch Manager, Andhra Bank, Bhanur Branch (Andhra Pradesh) to undergo three years rigorous imprisonment with fine of Rs. 1.50 lakh in a bank fraud case.
CBI had registered the case against Sh. D. Narasimha Reddy, Branch Manager, Andhra Bank, Bhanur Branch (Andhra Pradesh) and others on the allegations that the accused entered into a conspiracy with others and cheated the bank to the tune of Rs. 7.46 crore (approx.) by fraudulently debiting various Saving Bank Accounts, Current Accounts, Clean Bill Purchase Accounts without any authorization and also issuing Demand Drafts without receipt of consideration.
After investigation, a charge sheet was filed against the accused. The Trial Court found the accused guilty and convicted him.