Telangana: Former MP Geetha & hubby get bail in bank loan fraud case | Hyderabad News


HYDERABAD: YSRC former MP Kothapalli Geetha and her husband P Ramakoteswar Rao earned a reprieve from Telangana high court which on Friday stayed the five-year jail sentence awarded to them in the Punjab National Bank loan fraud case and granted them bail.
The court also granted bail to PNB officials KK Aravindakshan and S Raj Kumar, who were also sent to jail to serve a five-year term.
Chief Justice Ujjal Bhuyan suspended the sentence after hearing senior counsel T Niranjan Reddy. He said the appeal of the couple against the lower court verdict would be heard on December 16. The special CBI court on Wednesday sent them to five years in jail and imposed 25,000 penalty each for defrauding the bank.
The couple were asked to furnish 25,000 worth bail bond along with two sureties. Rao owned a construction firm, Visweswara Infrastructure, in Jubilee Hills and availed a loan of 42 crore. Later, the PNB realised that the loan was obtained with the help of fraudulent documents and connivance of some bank officials.
Aravindakshan and Raj Kumar had connived with Geetha and her husband and granted them 42 crore loan. The CBI, which investigated the case, filed its first chargesheet in 2015.





Source link

Leave a Comment