CBI Court Hyderabad Convicts Former Bank Manager and Six Others in ₹4.9 Crore Corporation Bank Fraud Case

The Central Bureau of Investigation (CBI) Court in Hyderabad, Telangana, has convicted and sentenced seven accused in a ₹4.9 crore bank fraud case involving the Corporation Bank, Banjara Hills Branch. The case, which dates back to 2004, was related to fraudulent housing loan disbursements based on fictitious documents.

CBI Court’s Judgment
The Special Judge of the CBI Court, Hyderabad, sentenced T. Chandrakanth, then Senior Manager of Corporation Bank, to two years of rigorous imprisonment along with a fine of ₹20,000. Six borrowers — VNSC Bose, V. Rajansri, Konda Sekhar Reddy, NVP Nanda Kishore, and H. Raja Sekhar Reddy — were also convicted and sentenced to one year of rigorous imprisonment each with a total fine of ₹55,000.

Details of the Investigation
The CBI had registered the case on 29 September 2004 against T. Chandrakanth and others for allegedly cheating Corporation Bank by fraudulently sanctioning and disbursing housing loans worth ₹4.9 crore on the basis of false and fabricated documents. The chargesheet was filed on 30 March 2007 against the accused following a detailed investigation.

Final Verdict
After a prolonged trial, the CBI Court convicted seven accused on 24 October 2025. The verdict highlights the accountability of financial officials and borrowers in fraudulent loan activities.

The conviction in this long-pending bank fraud case underscores the CBI’s continued efforts to ensure justice in financial frauds. It also serves as a reminder of the importance of transparency and due diligence in loan disbursement processes.