Jail for LIC official, realtor

Visakhapatnam: The First Additional Chief Metropolitan Magistrate KVL Haranath sentenced retired area manager of LIC Housing Finance Limited VS Prakasa Rao and Managing Director of Anantha Madhava Constructions and Real Estate P Ramesh Babu to 18 months imprisonment and a fine of Rs 6,000 and 9,000 to both the convicted persons.

According to the local CBI office, the accused hatched a criminal conspiracy to cheat the LIC Housing Finance and Ramesh Babu forged the documents and used the same as genuine for disbursing housing loan from LICHFL in the name of one P Sivananda, a resident of Chettivanipalem, Visakhapatnam, without his knowledge on property which was already financed by HDFC.

Area manager Prakasa Rao without conducting an interview of the borrower, dishonestly sanctioned the loan of Rs 3.75 lakh and issued cheques in favour of Ramesh Babu’s firm in installments. The CBI prosecutor said Prakasa Rao caused wrongful gain to P Ramesh Babu to the tune of Rs 3.75 lakh and corresponding wrongful loss to the LIC Housing Finance Limited.

After conducting regular trial, the court pronounced judgement convicting the accused Prakasa Rao (A1) for the offences punishable under sections 420 and 471 read with 120-B IPC and Ramesh Babu (A2) for the offences punishable under sections 420, 468 and 471 read with 120-B IPC and ordered that sentences imposed on the accused persons shall run concurrently.

Rowdy sheeter murdered : A 45-year-old rowdy sheeter was murdered at Maddilapalem, the busiest junction in the city, on Friday by two of his rivals. The police identified him as Malla Ramana. He was drinking in the bar since morning and was attacked in the evening on the same bar premises. He died on the spot. The Three Town police opened a rowdy sheet against him 20 years ago.

The police said Ramana had been living by settlements and intimidation and he was the accused in several murder cases. Recently, he had rented ground portion of his house to another rowdy sheeter Mahesh, who was not paying rent since two months. Ramana warned him several times to clear the rent and recently asked him to vacate the house. When he refused to vacate the house, Ramana barged into his house and threw away all house hold articles onto the road.

Even while drinking in the bar, Ramana had been abusing and threatening him with dire consequences. Perturbed with his threats, Mahesh, along with his friend Vasu, went to the bar and smashed Ramana’s head with iron rods. Later, they stabbed him killing him on the spot. Both were taken into custody.